Gold spot Intraday: The bias remains bullish
|Gold spot ($)
The bias remains bullish.
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Pivot (invalidation): 1417.00
Our preference
Long positions above 1417.00 with targets at 1430.00 & 1434.00 in extension.
Alternative scenario
Below 1417.00 look for further downside with 1410.00 & 1406.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Silver spot ($)
The upside prevails.
Pivot (invalidation): 15.9000
Our preference
Long positions above 15.9000 with targets at 16.2400 & 16.3600 in extension.
Alternative scenario
Below 15.9000 look for further downside with 15.8000 & 15.6500 as targets.
Comment
The RSI shows upside momentum.
Crude Oil (WTI)
Key resistance at 57.15.
Pivot (invalidation): 57.15
Our preference
Short positions below 57.15 with targets at 56.20 & 55.85 in extension.
Alternative scenario
Above 57.15 look for further upside with 57.60 & 58.20 as targets.
Comment
As Long as the resistance at 57.15 is not surpassed, the risk of the break below 56.20 remains high.
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