Crude Oil (WTI) Intraday: Key resistance at 56.50
|Gold spot ($)
Key resistance at 1419.50.
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Pivot (invalidation): 1419.50
Our preference
Short positions below 1419.50 with targets at 1411.00 & 1406.00 in extension.
Alternative scenario
Above 1419.50 look for further upside with 1423.00 & 1427.00 as targets.
Comment
The index currently faces a challenging resistance area at 1419.50.
Silver spot ($)
Look for 16.2000.
Pivot (invalidation): 16.5200
Our preference
Short positions below 16.5200 with targets at 16.3100 & 16.2000 in extension.
Alternative scenario
Above 16.5200 look for further upside with 16.6200 & 16.7400 as targets.
Comment
As Long as the resistance at 16.5200 is not surpassed, the risk of the break below 16.3100 remains high.
Crude Oil (WTI)
Key resistance at 56.50.
Our preference
Short positions below 56.50 with targets at 55.80 & 55.35 in extension.
Alternative scenario
Above 56.50 look for further upside with 56.80 & 57.30 as targets.
Comment
As Long as 56.50 is resistance, look for choppy price action with a bearish bias.
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