Crude Oil (WTI) Intraday: Capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

The bias remains bullish.

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Pivot (invalidation): 1498.00

Our preference
Long positions above 1498.00 with targets at 1516.00 & 1519.50 in extension.

Alternative scenario
Below 1498.00 look for further downside with 1492.50 & 1488.50 as targets.

Comment
The RSI is mixed to bullish.

Silver spot ($)

The bias remains bullish.

Pivot (invalidation): 17.6100

Our preference
Long positions above 17.6100 with targets at 17.8500 & 18.0000 in extension.

Alternative scenario
Below 17.6100 look for further downside with 17.4700 & 17.3500 as targets.

Comment
The RSI is mixed with a bullish bias.

Crude Oil (WTI)

Capped by a negative trend line.

Pivot (invalidation): 52.80

Our preference
Short positions below 52.80 with targets at 52.15 & 51.80 in extension.

Alternative scenario
Above 52.80 look for further upside with 53.25 & 53.60 as targets.

Comment
Technically the RSI is below its neutrality area at 50.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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