Crude Oil (WTI) Intraday: Further advance

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Target 1215.50.

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Pivot (invalidation): 1229.00

Our preference
Short positions below 1229.00 with targets at 1220.00 & 1215.50 in extension.

Alternative scenario
Above 1229.00 look for further upside with 1233.00 & 1236.00 as targets.

Comment
As Long as the resistance at 1229.00 is not surpassed, the risk of the break below 1220.00 remains high.

Silver spot ($)

Consolidation.

Pivot (invalidation): 14.3900

Our preference
Short positions below 14.3900 with targets at 14.2400 & 14.1900 in extension.

Alternative scenario
Above 14.3900 look for further upside with 14.4300 & 14.5000 as targets.

Comment
As Long as 14.3900 is resistance, look for choppy price action with a bearish bias.

Crude Oil (WTI)

Further advance.

Pivot (invalidation): 50.70

Our preference
Long positions above 50.70 with targets at 52.20 & 53.00 in extension.

Alternative scenario
Below 50.70 look for further downside with 50.10 & 49.40 as targets.

Comment
The RSI is mixed to bullish.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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