Wednesday, August 31, 2011

Technical 1 sep afternoon


GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1810.00
Our Preference: LONG positions @ 1811 with 1840 & 1855 in sight.
Alternative scenario: The downside penetration of 1810 will call for 1770 & 1745.
Comment: the RSI is supported by a bullish trend line.

Crude Oil (Oct 11) intraday: bullish bias above 87.65

Pivot: 87.65
Our Preference: LONG positions above 87.65 with 89.5 & 90.2 in sight.
Alternative scenario: The downside breakout of 87.65 will open the way to 86.5 & 85.
Comment: intraday support around 87.65

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