Silver spot Intraday: bullish bias above 17.6900
|Gold spot ($)
Look for 1568.00.
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Pivot (invalidation): 1558.00
Our preference
Long positions above 1558.00 with targets at 1564.00 & 1568.00 in extension.
Alternative scenario
Below 1558.00 look for further downside with 1554.50 & 1551.50 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Silver spot ($)
Bullish bias above 17.6900.
Pivot (invalidation): 17.6900
Our preference
Long positions above 17.6900 with targets at 17.9000 & 17.9800 in extension.
Alternative scenario
Below 17.6900 look for further downside with 17.5800 & 17.4900 as targets.
Comment
The RSI is mixed with a bullish bias.
Crude Oil (WTI)
54.75 expected.
Pivot (invalidation): 56.00
Our preference
Short positions below 56.00 with targets at 55.15 & 54.75 in extension.
Alternative scenario
Above 56.00 look for further upside with 56.55 & 57.05 as targets.
Comment
As Long as 56.00 is resistance, expect a return to 55.15.
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