Source : FxPro Financial Services Ltd (Review and Forex Rebates up to 85%)
Gold spot Intraday: under pressure.
Pivot: 1090
Most Likely Scenario: Short positions below 1090 with targets @ 1075 & 1072 in extension.
Alternative scenario: Above 1090 look for further upside with 1095 & 1103 as targets.
Comment: As long as 1090 is resistance, look for choppy price action with a bearish bias.
Gold Chart
Crude Oil (WTI) (Z5) Intraday: the downside prevails.
Pivot: 43.3
Most Likely Scenario: Short positions below 43.3 with targets @ 40.95 & 40.08 in extension.
Alternative scenario: Above 43.3 look for further upside with 44.1 & 44.7 as targets.
Comment: As long as the resistance at 43.3 is not surpassed, the risk of the break below 40.95 remains high. The contract is currently trading in a bearish channel.
Oil Chart
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