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Source : FxPro Financial Services Ltd (Review and Forex Rebates up to 85%)

Gold spot Intraday: under pressure.

Pivot: 1090

Most Likely Scenario: Short positions below 1090 with targets @ 1075 & 1072 in extension.

Alternative scenario: Above 1090 look for further upside with 1095 & 1103 as targets.

Comment: As long as 1090 is resistance, look for choppy price action with a bearish bias.

Gold Chart

Gold-gold

Crude Oil (WTI) (Z5) Intraday: the downside prevails.

Pivot: 43.3

Most Likely Scenario: Short positions below 43.3 with targets @ 40.95 & 40.08 in extension.

Alternative scenario: Above 43.3 look for further upside with 44.1 & 44.7 as targets.

Comment: As long as the resistance at 43.3 is not surpassed, the risk of the break below 40.95 remains high. The contract is currently trading in a bearish channel.

Oil Chart

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