Crude Oil (WTI) Intraday: Bullish bias above 50.85

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.