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

 

Gold News

Pivot: 1122

Most Likely Scenario: long positions above 1122 with targets @ 1133 & 1138.5 in extension.

Alternative scenario: below 1122 look for further downside with 1118 & 1111 as targets.

Comment: the RSI is mixed to bullish.

Gold Chart

Gold36958

 

Oil News

Pivot: 31.27

Most Likely Scenario: short positions below 31.27 with targets @ 29.26 & 28.5 in extension.

Alternative scenario: above 31.27 look for further upside with 32.07 & 33.35 as targets.

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

Oil Chart

oil23945456

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