Crude Oil (WTI) Intraday: Further upside

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Choppy.

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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.

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.

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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