Gold-Oil News (2016.04.05)

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Gold-Oil News – Gold spot Intraday: the bias remains bullish.

Pivot: 1209.00

Most Likely Scenario: long positions above 1209.00 with targets @ 1229.00 & 1235.00 in extension.

Alternative scenario: below 1209.00 look for further downside with 1202.00 & 1195.00 as targets.

Comment: the RSI is bullish and calls for further upside.

Gold Chart

Gold_Chart25

Crude Oil (WTI) (K6) Intraday: under pressure.

Pivot: 37.25

Most Likely Scenario: short positions below 37.25 with targets @ 34.50 & 34.00 in extension.

Alternative scenario: above 37.25 look for further upside with 38.39 & 39.07 as targets.

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

Oil Chart

oil_chart63

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