Gold-Oil News (2016.03.16)

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

 

Gold spot Intraday: key resistance at 1238.00.

Pivot: 1238.00

Most Likely Scenario: short positions below 1238.00 with targets @ 1225.00 & 1215.00 in extension.

Alternative scenario: above 1238.00 look for further upside with 1248.00 & 1259.00 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1238.00.

Gold Chart

gold25645

Crude Oil (WTI) (J6) Intraday: the downside prevails.

Pivot: 37.45

Most Likely Scenario: short positions below 37.45 with targets @ 35.93 & 35.33 in extension.

Alternative scenario: above 37.45 look for further upside with 38.22 & 38.90 as targets.

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

Oil Cart

Oil_Chart2556

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