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Gold Analysis
Gold spot Intraday: limited upside.
Pivot: 1192.4
Most Likely Scenario: Long positions above 1192.4 with targets @ 1213.1 & 1215.8 in extension.
Alternative scenario: Below 1192.4 look for further downside with 1185 & 1180 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Gold Chart
Oil News
Crude Oil (WTI) (K5) Intraday: key resistance at 52.3.
Pivot: 52.3
Most Likely Scenario: Short positions below 52.3 with targets @ 49.8 & 48.2 in extension.
Alternative scenario: Above 52.3 look for further upside with 54.1 & 55.7 as targets.
Comment: As long as 52.3 is resistance, look for choppy price action with a bearish bias.
Oil Chart
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