commodites

Gold has pulled back to the .382 fib and key daily resistance (USD 1206.95/oz) where price is currently stalling. I will watch for bearish price action around this level and enter a position on a break down of the 2hr ascending channel.

1) Oil has been making lower swing highs and and swing lows 2) Expecting a new low to be formed around 46 zone @ daily resistance zone 3) A Break and restest of the trend line will warrant short entries 4) Downside Target 1 42.50 zone