Gold-Oil News (2016.04.04)

Gold-Oil News (2016.04.04)

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

Gold-Oil News – Gold spot Intraday: bullish bias above 1209.00.

Pivot: 1209.00

Most Likely Scenario: long positions above 1209.00 with targets @ 1224.00 & 1229.00 in extension.

Alternative scenario: below 1209.00 look for further downside with 1202.00 & 1195.00 as targets.

Comment: a support base at 1209.00 has formed and has allowed for a temporary stabilisation.

Gold Chart

Crude Oil (WTI) (K6) Intraday: under pressure.

Pivot: 37.70

Most Likely Scenario: short positions below 37.70 with targets @ 35.40 & 34.50 in extension.

Alternative scenario: above 37.70 look for further upside with 38.39 & 39.07 as targets.

Comment: the RSI lacks upward momentum.

Oil Chart