Gold – Oil News and Analysis
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.
Crude Oil (NYMEX) (J5) Intraday: capped by a negative trend line.
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.