Silver spot ($) Intrday: consolidation
|Gold spot ($)
Key resistance at 1470.50.
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Pivot (invalidation): 1470.50
Our preference
Short positions below 1470.50 with targets at 1464.00 & 1461.50 in extension.
Alternative scenario
Above 1470.50 look for further upside with 1475.50 & 1479.00 as targets.
Comment
As Long as 1470.50 is resistance, expect a return to 1464.00.
Silver spot ($)
Consolidation.
Pivot (invalidation): 16.9700
Our preference
Short positions below 16.9700 with targets at 16.8300 & 16.7500 in extension.
Alternative scenario
Above 16.9700 look for further upside with 17.1100 & 17.2200 as targets.
Comment
As Long as 16.9700 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI)
Further upside.
Pivot (invalidation): 59.15
Our preference
Long positions above 59.15 with targets at 59.85 & 60.15 in extension.
Alternative scenario
Below 59.15 look for further downside with 58.75 & 58.50 as targets.
Comment
The RSI is bullish and calls for further advance.
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