Gold-Oil News (2016.01.28)

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

Gold spot Intraday: bullish bias above 1114.5.

Pivot: 1114.5

Most Likely Scenario: long positions above 1114.5 with targets @ 1128 & 1133 in extension.

Alternative scenario: below 1114.5 look for further downside with 1109.5 & 1104.5 as targets.

Comment: a support base at 1114.5 has formed and has allowed for a temporary stabilisation.

Gold Chart

Crude Oil (WTI) (H6) Intraday: bullish bias above 31.2.

Pivot: 31.2

Most Likely Scenario: long positions above 31.2 with targets @ 32.84 & 33.9 in extension.

Alternative scenario: below 31.2 look for further downside with 30 & 29.25 as targets.

Comment: a support base at 31.2 has formed and has allowed for a temporary stabilisation.

Oil Chart