Gold and Oil Analysis 4 May , 2015

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Gold and Oil Analysis 4 May , 2015

Pivot: 1169

Most Likely Scenario: Long positions above 1169 with targets @ 1199 & 1207.5 in extension.

Alternative scenario: Below 1169 look for further downside with 1160 & 1153 as targets.

Comment: The RSI is mixed to bullish.

Gold Chart

Crude Oil (WTI) (M5) Intraday: further upside.

Pivot: 58.3

Most Likely Scenario: Long positions above 58.3 with targets @ 59.9 & 60.5 in extension.

Alternative scenario: Below 58.3 look for further downside with 57.85 & 57.2 as targets.

Comment: The RSI is mixed to bullish.

Oil Chart

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