GOLD
Near-term focus is turning lower repeated upside rejection above daily Tenkan-sen that so far capped recovery attempts from fresh low at $1057.
Tenkan-sen is turning south and maintaining pressure, however, price action is still holding within three-day congestion, floor of which lies at $1165.
Bearish studies favor fresh downside attempts, however, extended consolidation cannot be ruled out.
Firm break below $1157 handle is needed to signal resumption of current wave C towards its FE138.2% at $1150.
Conversely, sustained break above Tenkan-sen line would generate initial bullish signal for fresh recovery towards next barrier at $1187 and possible extension towards upper breakpoint at $1200 zone.
Res: 1176; 1180; 1187; 1197
Sup: 1165; 1160; 1157; 1150

US CRUDE OIL

Oil price rallies above $51 per barrel, extending bounce from correction low at $49.60. Probe below psychological $ 50 support was short-lived, as correction was contained above initial support at $49.49 (Fibo 38.2% of $44.81/$52.39 upleg).
Fresh strength is shifting n/t focus higher, as rally recovered over 61.8% of $52.39/$49.60 pullback, for renewed attempt above strong $52.00 resistance zone, after initial attempt was strongly rejected.
Bullish setup of daily studies supports scenario, with sustained break above $52.00 barrier (multi-month congestion tops) needed to confirm bullish resumption towards next targets at $54.06 and $55.64.
Initial supports lay at $50.86 and $50.00, guarding pivots at $49.60/49.

Res: 51.18; 51.58; 51.92; 52.39
Sup: 50.27; 50.00; 49.49; 48.98
, Market Analysis