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

 

Gold spot Intraday: key resistance at 1105.

Pivot: 1105

Most Likely Scenario: short positions below 1105 with targets @ 1091 & 1086 in extension.

Alternative scenario: above 1105 look for further upside with 1114 & 1121 as targets.

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

Gold Chart

Gold25644

Crude Oil (WTI) (G6) Intraday: capped by a negative trend line.

Pivot: 32.3

Most Likely Scenario: short positions below 32.3 with targets @ 30 & 29.05 in extension.

Alternative scenario: above 32.3 look for further upside with 33.78 & 35.15 as targets.

Comment: the RSI is bearish and calls for further decline.

Oil Chart

Oil

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