Gold and Oil Pivot Point

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Gold Pivot Point

Gold spot Intraday: under pressure.

Pivot: 1214.75

Most Likely Scenario: Short positions below 1214.75 with targets @ 1195 & 1190.1 in extension.

Alternative scenario: Above 1214.75 look for further upside with 1219.9 & 1223.5 as targets.

Comment: As long as 1214.75 is resistance, likely decline to 1195.

Gold Chart

Oil Pivot Pint

Crude Oil (NYMEX) (J5) Intraday: further advance.

Pivot: 49.45

Most Likely Scenario: Long positions above 49.45 with targets @ 51.25 & 52.5 in extension.

Alternative scenario: Below 49.45 look for further downside with 48.7 & 47.8 as targets.

Comment: The RSI lacks downward momentum.

Oil Chart

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