Gold spot Intraday: under pressure.
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.
Crude Oil (WTI) (J6) Intraday: bullish bias above 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.
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