Crude Oil (WTI) Intraday: Further upside

Gold spot ($)

Choppy.

Gold

 


 

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Pivot (invalidation): 1310.50

Our preference
Short positions below 1310.50 with targets at 1306.75 & 1304.75 in extension.

Alternative scenario
Above 1310.50 look for further upside with 1312.50 & 1315.50 as targets.

Comment
As Long as 1310.50 is resistance, look for choppy price action with a bearish bias.

 

Silver spot ($)

Under pressure.

Silver

Pivot (invalidation): 15.6600

Our preference
Short positions below 15.6600 with targets at 15.5700 & 15.5200 in extension.

Alternative scenario
Above 15.6600 look for further upside with 15.7100 & 15.7600 as targets.

Comment
As Long as 15.6600 is resistance, likely decline to 15.5700.

 

Crude Oil (WTI)

Further upside.

Crude Oil

Pivot (invalidation): 53.60

Our preference
Long positions above 53.60 with targets at 54.60 & 54.90 in extension.

Alternative scenario
Below 53.60 look for further downside with 53.25 & 52.95 as targets.

Comment
The RSI advocates for further advance.

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.