Gold & Oil Analysis (2015.10.27)

Gold & Oil  Analysis (2015.10.27)

Source: Forex Broker(FxPro-Review and FX Rebates)

Gold spot Intraday: further upside.

Pivot: 1162

Most Likely Scenario: Long positions above 1162 with targets @ 1170.2 & 1175 in extension.

Alternative scenario: Below 1162 look for further downside with 1158.6 & 1156 as targets.

Comment: The RSI is mixed to bullish.

Gold Chart

Crude Oil (WTI) (Z5) Intraday: capped by a negative trend line.

Pivot: 44.53

Most Likely Scenario: Short positions below 44.53 with targets @ 43 & 42.15 in extension.

Alternative scenario: Above 44.53 look for further upside with 44.95 & 45.4 as targets.

Comment: As long as 44.53 is resistance, likely decline to 43.

Oil Chart