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Gold-Oil Analysis (2016.02.29)

Source: Fxpro Forex Broker (Review and Forex Rebates Up to 85%)

 

Gold spot Intraday: key resistance at 1232.00.

Pivot: 1232.00

Most Likely Scenario: short positions below 1232.00 with targets @ 1211.00 & 1202.00 in extension.

Alternative scenario: above 1232.00 look for further upside with 1243.00 & 1254.00 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Gold Chart

Gold362

Pivot: 33.80

Most Likely Scenario: short positions below 33.80 with targets @ 32.00 & 31.05 in extension.

Alternative scenario: above 33.80 look for further upside with 34.70 & 35.60 as targets.

Comment: the RSI is bearish and calls for further downside.

Oil Chart

oil2155

 

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