Crude Oil (WTI) Intraday: Bullish bias above 50.85

Gold spot ($)

Consolidation.

---

Stay on top of the markets with Swissquote’s News & Analysis

---

Pivot (invalidation): 1242.00

Our preference
Short positions below 1242.00 with targets at 1236.00 & 1233.00 in extension.

Alternative scenario
Above 1242.00 look for further upside with 1244.50 & 1248.00 as targets.

Comment
As Long as 1242.00 is resistance, look for choppy price action with a bearish bias.

Silver spot ($)

Key resistance at 14.5100.

Pivot (invalidation): 14.5100

Our preference
Short positions below 14.5100 with targets at 14.3800 & 14.3200 in extension.

Alternative scenario
Above 14.5100 look for further upside with 14.5800 & 14.6600 as targets.

Comment
The RSI is mixed and calls for caution.

Crude Oil (WTI)

Bullish bias above 50.85.

Pivot (invalidation): 50.85

Our preference
Long positions above 50.85 with targets at 52.05 & 52.60 in extension.

Alternative scenario
Below 50.85 look for further downside with 50.10 & 49.40 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.