Silver spot Intraday: supported by a rising trend line
|Gold spot ($)
Intraday support around 1495.50.
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Pivot (invalidation): 1495.50
Our preference
Long positions above 1495.50 with targets at 1507.00 & 1512.00 in extension.
Alternative scenario
Below 1495.50 look for further downside with 1491.00 & 1486.00 as targets.
Comment
The RSI is mixed with a bullish bias.
Silver spot ($)
Supported by a rising trend line.
Pivot (invalidation): 17.8700
Our preference
Long positions above 17.8700 with targets at 18.0900 & 18.1800 in extension.
Alternative scenario
Below 17.8700 look for further downside with 17.7300 & 17.6100 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Crude Oil (WTI)
Under pressure.
Pivot (invalidation): 60.40
Our preference
Short positions below 60.40 with targets at 57.20 & 56.30 in extension.
Alternative scenario
Above 60.40 look for further upside with 61.45 & 62.55 as targets.
Comment
The RSI advocates for further downside.
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