Gold and Oil News (2016.04.20)

Gold and Oil News(2016.04.20)

Gold spot Intraday: the bias remains bullish.

Pivot: 1244.00

Most Likely Scenario: long positions above 1244.00 with targets @ 1259.50 & 1265.00 in extension.

Alternative scenario: below 1244.00 look for further downside with 1235.50 & 1227.00 as targets.

Comment: a support base at 1244.00 has formed and has allowed for a temporary stabilisation.

Gold Chart

Crude Oil (WTI) (K6) Intraday: rebound in sight.

Pivot: 39.50

Most Likely Scenario: long positions above 39.50 with targets @ 40.76 & 41.54 in extension.

Alternative scenario: below 39.50 look for further downside with 38.44 & 37.60 as targets.

Comment: the RSI is mixed with a bullish bias.

Oil Chart

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