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

 

Gold spot Intraday: under pressure.

Pivot: 1261.00

Most Likely Scenario: short positions below 1261.00 with targets @ 1245.00 & 1242.00 in extension.

Alternative scenario: above 1261.00 look for further upside with 1269.00 & 1279.00 as targets.

Comment: as long as 1261.00 is resistance, look for choppy price action with a bearish bias.

Gold Chart

Gold_chart256

Crude Oil (WTI) (J6) Intraday: bullish bias above 37.20.

Pivot: 37.20

Most Likely Scenario: long positions above 37.20 with targets @ 39.35 & 40.40 in extension.

Alternative scenario: below 37.20 look for further downside with 36.55 & 36.05 as targets.

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

Oil Chart

oil_pic259

 

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