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

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Bullish bias above 1608.00.

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Pivot (invalidation): 1608.00

Our preference
Long positions above 1608.00 with targets at 1645.00 & 1659.00 in extension.

Alternative scenario
Below 1608.00 look for further downside with 1594.00 & 1578.00 as targets.

Comment
The RSI is mixed to bullish.

Silver spot ($)

Look for 15.0900.

Pivot (invalidation): 14.2300

Our preference
Long positions above 14.2300 with targets at 14.7100 & 15.0900 in extension.

Alternative scenario
Below 14.2300 look for further downside with 13.9700 & 13.6100 as targets.

Comment
The RSI is mixed with a bullish bias.

Crude Oil (WTI)

Capped by a negative trend line.

Pivot (invalidation): 23.45

Our preference
Short positions below 23.45 with targets at 22.40 & 21.80 in extension.

Alternative scenario
Above 23.45 look for further upside with 24.20 & 24.65 as targets.

Comment
A break below 22.40 would trigger a drop towards 21.80.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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