Gold and Oil Analysis (2015.11.30)

PDF version 2015-11-30 08:38:30

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Gold spot Intraday: under pressure.

Pivot: 1064

Most Likely Scenario: Short positions below 1064 with targets @ 1050 & 1044 in extension.

Alternative scenario: Above 1064 look for further upside with 1069.5 & 1074 as targets.

Comment: As long as 1064 is resistance, likely decline to 1050.

Gold Chart

Crude Oil (WTI) (F6) Intraday: under pressure.

Pivot: 42.75

Most Likely Scenario: Short positions below 42.75 with targets @ 41.26 & 40.96 in extension.

Alternative scenario: Above 42.75 look for further upside with 43.32 & 43.9 as targets.

Comment: As long as 42.75 is resistance, likely decline to 41.26.

Oil chart

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Pivot points are very useful tools and I use of them every day

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It seems the main trend is up for gold according to the daily and weekly swing charts!

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Are you sure? I cant see any sign in daily and weekly chart to up,can you tell me your reasons?

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The Gold needs to break above 1061.08 level, being the intraday Pivot Point if the price action is to continue its upward move.