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Oil and Gold Analysis (2015.05.28)

Forex Cashback and FXPRO Broker

Gold spot Intraday: under pressure.

Pivot: 1196

Most Likely Scenario: Short positions below 1196 with targets @ 1182 & 1178 in extension.

Alternative scenario: Above 1196 look for further upside with 1204 & 1209.5 as targets.

Comment: As long as 1196 is resistance, likely decline to 1182.

Gold chart

gold chart

 

Crude Oil (WTI) (N5) Intraday: capped by a negative trend line.

Pivot: 58.5

Most Likely Scenario: Short positions below 58.5 with targets @ 57 & 56.3 in extension.

Alternative scenario: Above 58.5 look for further upside with 58.9 & 59.5 as targets.

Comment: As long as 58.5 is resistance, likely decline to 57.

Oil Chart

oil chart

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