WTI Oil Bullish, Eyes The 50.80 Levels!
Outlook in WTI oil remains on the upside as long as 48.54 support holds on a daily closing basis, resistance comes at the 50.83 levels, a halt is likely but a break would open 52.20, further upside, resistance comes at the 54.00 levels.
On the downside, below 48.54 sees a fall risk to the 47.45/45.80 levels.
Conclusion: The WTI Oil continues to face upside threats above the 48.54 levels.
XAUUSD: Pulls Back With Caution.
As long as 1326 resistance holds on a daily closing basis, the XAUUSD remains in a pullback mode and further down could be seen towards the 1312 levels, ahead of the 1299 levels, next support comes at the 1291/1283 levels.
On the upside, resistance comes at the 1326 levels, a sustained breakout above that level 1326 levels will turn the focus on the 1340 levels, further upside, resistance comes at the 1257 levels ahead of the 1265 levels.
Conclusion: The XAUUSD continues to face pull back threats below the 1326/1340 levels…