technical july 14

GOLD (Spot) intraday: further advance. Pivot: 1572.00 Our Preference: LONG positions above 1572 with 1593 & 1605 in sight. Alternative scenario: The downside breakout of 1572 will open the way to 1563 & 1554. Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited. << Previous - Next >>

Crude Oil (Aug 11) intraday: further upside. Pivot: 96.50 Our Preference: LONG positions above 96.5 with 98.2 & 98.95 as next targets. Alternative scenario: The downside breakout of 96.5 will open the way to 95.9 & 95.15. Comment: the immediate trend remains down but the momentum is weak. Support threshold at 96.5.