Crude Oil (WTI) Intraday: Further upside

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Bullish bias above 1293.00.

Stay on top of the markets with Swissquote’s News & Analysis

Pivot (invalidation): 1293.00

Our preference
Long positions above 1293.00 with targets at 1300.00 & 1303.00 in extension.

Alternative scenario
Below 1293.00 look for further downside with 1289.50 & 1287.00 as targets.

Comment
A support base at 1293.00 has formed and has allowed for a temporary stabilisation.

Silver spot ($)

The bias remains bullish.

Pivot (invalidation): 14.7100

Our preference
Long positions above 14.7100 with targets at 14.8600 & 14.9000 in extension.

Alternative scenario
Below 14.7100 look for further downside with 14.6700 & 14.6000 as targets.

Comment
The RSI lacks downward momentum.

Crude Oil (WTI)

Further upside.

Pivot (invalidation): 61.70

Our preference
Long positions above 61.70 with targets at 63.05 & 63.30 in extension.

Alternative scenario
Below 61.70 look for further downside with 61.25 & 60.95 as targets.

Comment
The RSI is bullish and calls for further advance.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.