Crude Oil (WTI) Intraday: Key resistance at 52.90

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Aim @ 1356.00.

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Pivot (invalidation): 1340.50

Our preference
Long positions above 1340.50 with targets at 1351.50 & 1356.00 in extension.

Alternative scenario
Below 1340.50 look for further downside with 1335.00 & 1331.50 as targets.

Comment
The RSI shows upside momentum.

Silver spot ($)

The upside prevails.

Pivot (invalidation): 14.8400

Our preference
Long positions above 14.8400 with targets at 15.0300 & 15.1400 in extension.

Alternative scenario
Below 14.8400 look for further downside with 14.7600 & 14.7100 as targets.

Comment
The RSI shows upside momentum.

Crude Oil (WTI)

Key resistance at 52.90.

Pivot (invalidation): 52.90

Our preference
Short positions below 52.90 with targets at 51.70 & 50.90 in extension.

Alternative scenario
Above 52.90 look for further upside with 53.45 & 54.00 as targets.

Comment
As Long as the resistance at 52.90 is not surpassed, the risk of the break below 51.70 remains high.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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