Crude Oil (WTI) Intraday: key resistance at 53.85
|Gold spot ($)
The bias remains bullish.
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Pivot (invalidation): 1530.00
Our preference
Long positions above 1530.00 with targets at 1555.00 & 1569.00 in extension.
Alternative scenario
Below 1530.00 look for further downside with 1517.00 & 1508.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Silver spot ($)
The bias remains bullish.
Pivot (invalidation): 17.4700
Our preference
Long positions above 17.4700 with targets at 17.7700 & 17.9300 in extension.
Alternative scenario
Below 17.4700 look for further downside with 17.3300 & 17.2000 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Crude Oil (WTI)
Key resistance at 53.85.
Pivot (invalidation): 53.85
Our preference
Short positions below 53.85 with targets at 53.00 & 52.30 in extension.
Alternative scenario
Above 53.85 look for further upside with 54.30 & 54.75 as targets.
Comment
The upward potential is likely to be limited by the resistance at 53.85.
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