Oil and Gold Analysis (2015.05.28)
Gold spot Intraday: under pressure.
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.
Crude Oil (WTI) (N5) Intraday: capped by a negative trend line.
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.
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