Monday, September 5, 2011

Techinical of sep 5 evening


GOLD (Spot) intraday: the downside prevails.

Pivot: 1920.00
Our Preference: SHORT positions below 1920 with targets @ 1870 & 1855.
Alternative scenario: The upside breakout of 1920 will open the way to 1940 & 1965.
Comment: the RSI is posting a bearish divergence (not confirmed yet).

Crude Oil (Oct 11) intraday: rebound in sight.

Pivot: 83.80
Our Preference: LONG positions @ 84 with targets @ 85.4 & 86.5.
Alternative scenario: The downside penetration of 83.8 will call for 83 & 81.2.
Comment: the RSI is posting a bullish divergence (not confirmed yet).

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