Crude Oil (WTI) Intraday: Further upside
|Gold spot ($)
Choppy.
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Pivot (invalidation): 1310.50
Our preference
Short positions below 1310.50 with targets at 1306.75 & 1304.75 in extension.
Alternative scenario
Above 1310.50 look for further upside with 1312.50 & 1315.50 as targets.
Comment
As Long as 1310.50 is resistance, look for choppy price action with a bearish bias.
Silver spot ($)
Under pressure.
Pivot (invalidation): 15.6600
Our preference
Short positions below 15.6600 with targets at 15.5700 & 15.5200 in extension.
Alternative scenario
Above 15.6600 look for further upside with 15.7100 & 15.7600 as targets.
Comment
As Long as 15.6600 is resistance, likely decline to 15.5700.
Crude Oil (WTI)
Further upside.
Pivot (invalidation): 53.60
Our preference
Long positions above 53.60 with targets at 54.60 & 54.90 in extension.
Alternative scenario
Below 53.60 look for further downside with 53.25 & 52.95 as targets.
Comment
The RSI advocates for further advance.
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