Silver Spot ($) Intraday: caution
|Gold spot ($)
The bias remains bullish.
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Pivot (invalidation): 1498.00
Our preference
Long positions above 1498.00 with targets at 1509.00 & 1512.50 in extension.
Alternative scenario
Below 1498.00 look for further downside with 1493.00 & 1488.00 as targets.
Comment
The RSI lacks downward momentum.
Silver spot ($)
Caution.
Pivot (invalidation): 17.0500
Our preference
Long positions above 17.0500 with targets at 17.1500 & 17.2000 in extension.
Alternative scenario
Below 17.0500 look for further downside with 16.9800 & 16.9300 as targets.
Comment
A support base at 17.0500 has formed and has allowed for a temporary stabilisation.
Crude Oil (WTI)
Towards 54.85.
Pivot (invalidation): 56.20
Our preference
Short positions below 56.20 with targets at 55.15 & 54.85 in extension.
Alternative scenario
Above 56.20 look for further upside with 56.60 & 56.95 as targets.
Comment
The RSI is bearish and calls for further downside.
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