Gold-Oil Analysis (2016.03.02)

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

 

Gold spot Intraday: under pressure.

Pivot: 1240.00

Most Likely Scenario: short positions below 1240.00 with targets @ 1220.00 & 1211.00 in extension.

Alternative scenario: above 1240.00 look for further upside with 1249.00 & 1254.00 as targets.

Comment: the RSI calls for a new downleg.

Gold Chart

gold_chart

Crude Oil (WTI) (J6) Intraday: supported by a rising trend line.

Pivot: 33.00

Most Likely Scenario: long positions above 33.00 with targets @ 34.70 & 35.60 in extension.

Alternative scenario: below 33.00 look for further downside with 32.30 & 31.60 as targets.

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

Oil Chart

oil_125645


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Jack Says

0 1

as long as market holding trades below 1250 will expect another dip toward 1220 zone with continues trading zone below 1211 will expect farther drop toward 1180, while above 1250 market may head to attack 1264 resistance where above this level expect farther gain to test 1300-10 zone



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