Technical 7sep afternoon

GOLD (Spot) intraday: under pressure.

Pivot: 1885.00 Our Preference: SHORT positions below 1885 with 1830 & 1810 as next targets. Alternative scenario: The upside penetration of 1885 will call for a rebound towards 1920 & 1940. Comment: 20 period moving average broke below the 50 period moving average.

Crude Oil (Oct 11) intraday: further advance.

Pivot: 85.00 Our Preference: LONG positions above 85 with 87.7 & 88.6 as next targets. Alternative scenario: The downside penetration of 85 will call for a slide towards 83.5 & 82. Comment: the upward crossover between the 20 period moving average and the 50 one is a bullish signal, (so called golden-cross).