Gold-Oil News(2016.02.17)

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Gold-Oil News(2016.02.17)

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


Gold spot Intraday: supported by a rising trend line.

Pivot: 1195.00

Most Likely Scenario: long positions above 1195.00 with targets @ 1217.00 & 1232.00 in extension.

Alternative scenario: below 1195.00 look for further downside with 1181.00 & 1175.00 as targets.

Comment: the RSI is mixed to bullish.

Gold Chart



Crude Oil (WTI) (H6) Intraday: under pressure.

Pivot: 30.25

Most Likely Scenario: short positions below 30.25 with targets @ 27.75 & 26.95 in extension.

Alternative scenario: above 30.25 look for further upside with 30.65 & 31.50 as targets.

Comment: the RSI lacks upward momentum.

Oil Chart


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Jack Says

2 3

Gold needs to hold above 1202.59 level, being the intraday Pivot Point if the price action is to continue the upward move.The initial upside target is 1224.00


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