Crude Oil (WTI) Intraday: Further advance

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Capped by a negative trend line.

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Pivot (invalidation): 1503.00

Our preference
Short positions below 1503.00 with targets at 1492.00 & 1485.00 in extension.

Alternative scenario
Above 1503.00 look for further upside with 1510.00 & 1515.00 as targets.

Comment
The RSI has just struck against its neutrality area at 50% and is reversing down.

Silver spot ($)

Capped by a negative trend line.

Pivot (invalidation): 17.0000

Our preference
Short positions below 17.0000 with targets at 16.7700 & 16.6600 in extension.

Alternative scenario
Above 17.0000 look for further upside with 17.0800 & 17.1800 as targets.

Comment
The RSI is mixed to bearish.

Crude Oil (WTI)

Further advance.

Pivot (invalidation): 55.50

Our preference
Long positions above 55.50 with targets at 56.55 & 57.30 in extension.

Alternative scenario
Below 55.50 look for further downside with 55.05 & 54.45 as targets.

Comment
The RSI is bullish and calls for further advance.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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