Gold-Oil Analysis (2016.01.26)

Source: FxPro Forex Broker (Review and Forex Rebates Up to 85%)

Gold spot Intraday: further upside.

Pivot: 1102.5

Most Likely Scenario: long positions above 1102.5 with targets @ 1117 & 1123 in extension.

Alternative scenario: below 1102.5 look for further downside with 1099.3 & 1093.5 as targets.

Comment: the RSI is supported by a bullish trend line.

Gold Chart

Crude Oil (WTI) (H6) Intraday: under pressure.

Pivot: 30.95

Most Likely Scenario: short positions below 30.95 with targets @ 29.1 & 28.46 in extension.

Alternative scenario: above 30.95 look for further upside with 31.75 & 32.7 as targets.

Comment: the RSI lacks upward momentum.

Oil Chart