Gold – Oil News and Analysis

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Gold – Oil News and Analysis

Pivot: 1165

Most Likely Scenario: Short positions below 1165 with targets @ 1148.5 & 1139 in extension.

Alternative scenario: Above 1165 look for further upside with 1170 & 1175.35 as targets.

Comment: Intraday technical indicators are mixed and call for caution.

Gold Chart

Crude Oil (NYMEX) (J5) Intraday: capped by a negative trend line.

Pivot: 46.7

Most Likely Scenario: Short positions below 46.7 with targets @ 42 & 40.6 in extension.

Alternative scenario: Above 46.7 look for further upside with 48 & 49 as targets.

Comment: As long as 46.7 is resistance, likely decline to 42.

Oil Chart

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