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Gold and Oil Analysis
Gold analysis
Pivot: 1207
Most Likely Scenario: Short positions below 1207 with targets @ 1192 & 1183 in extension.
Alternative scenario: Above 1207 look for further upside with 1214 & 1223.5 as targets.
Comment: As long as 1207 is resistance, expect a return to 1192.
Gold chart
Pivot: 53.95
Most Likely Scenario: Long positions above 53.95 with targets @ 59.3 & 60.5 in extension.
Alternative scenario: Below 53.95 look for further downside with 52.5 & 50 as targets.
Comment: The RSI is mixed to bullish.
Oil Chart
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