Gold and crude oil Technical of aug18

GOLD (Spot) intraday: bullish bias above 1778

Pivot: 1778.00 Our Preference: LONG positions above 1778 with 1800 & 1815 in sight. Alternative scenario: The downside breakout of 1778 will open the way to 1758 & 1748. Comment: the RSI advocates for further advance.

Crude Oil (Sep 11) intraday: bounce.

Pivot: 85.60 Our Preference: LONG positions above 85.6 with 90.25 & 92.85 as next targets. Alternative scenario: The downside penetration of 85.6 will call for 82.85 & 80.7. Comment: the immediate trend remains down but the momentum is weak.