Gold Spot ($) Intraday: turning down
|Gold Spot ($)
Turning down.
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Pivot (invalidation): 1466.00
Our preference
Short positions below 1466.00 with targets at 1462.00 & 1459.00 in extension.
Alternative scenario
Above 1466.00 look for further upside with 1469.00 & 1472.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Silver Spot ($)
Turning down.
Pivot (invalidation): 16.6800
Our preference
Short positions below 16.6800 with targets at 16.5600 & 16.5000 in extension.
Alternative scenario
Above 16.6800 look for further upside with 16.7800 & 16.8800 as targets.
Comment
The RSI shows downside momentum.
Crude Oil (WTI)
Bullish bias above 58.70.
Pivot (invalidation): 58.70
Our preference
Long positions above 58.70 with targets at 59.10 & 59.35 in extension.
Alternative scenario
Below 58.70 look for further downside with 58.50 & 58.20 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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