Oil and Gold News (2016.01.22)
Gold spot Intraday: bullish bias above 1093.5.
Most Likely Scenario: long positions above 1093.5 with targets @ 1106 & 1110 in extension.
Alternative scenario: below 1093.5 look for further downside with 1090.5 & 1086 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Crude Oil (WTI) (H6) Intraday: further advance.
Most Likely Scenario: long positions above 29 with targets @ 31.2 & 32 in extension.
Alternative scenario: below 29 look for further downside with 28.4 & 27.6 as targets.
Comment: the RSI is bullish and calls for further advance.
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