Gold spot ($)

Consolidation.

Gold

 


 

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.

Silver

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.

Crude Oil

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.

This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.

Analysis feed

Latest Forex Analysis

Editors’ Picks

AUD/USD: Fresh lows, channel support tested, Golden Ratio in focus

Bears taking out the H&S neckline, target channel support/uptrend at 0.6829. Failures of the channel open risk to 61.8% Fibo and then 0.6755 November low. The risk-off mood in Asia not helping bull's case ahead of key data and an expected rate cut from a dovish RBA.

AUD/USD News

USD/JPY drops to weekly low near 109.80 as fears of SARS return remain in focus

USD/JPY extends the previous day’s losses to 109.80, the weakest since January 07, while entering the Asian session on Wednesday. The pair registered heavy losses on Tuesday as news of China’s virus outbreaks gone viral.

USD/JPY News

Coronavirus FX Selloff, CAD Prime for Bank of Canada Breakout?

The most influential story for the financial markets today was reports that the first US case of corona virus has been confirmed. This deadly virus is spreading across the globe creating concerns about the impact on travel and consumer spending.

Read more

Gold: Stays below $1,560 following Tuesday’s bearish spinning top

Gold remains on the back foot while trading around $1,556.90 during the Asian session on Wednesday. The yellow metal portrayed a bearish candlestick formation, backed by bearish MACD, during the previous day.

Gold News

GBP/USD: Aims to revisit 200-hour SMA, immediate support trendline

GBP/USD registers mild losses while trading around 1.3045 during Wednesday’s Asian session. The pair earlier reversed from 50% Fib retracement of its fall from Jan 07 to 14. A two-week-old falling trend line adds to the resistance.

GBP/USD News

Forex Majors

Cryptocurrencies

Signatures