Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
The bias remains bullish.
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1530.00
Our preference
Long positions above 1530.00 with targets at 1555.00 & 1569.00 in extension.
Alternative scenario
Below 1530.00 look for further downside with 1517.00 & 1508.00 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Silver spot ($)
The bias remains bullish.
Pivot (invalidation): 17.4700
Our preference
Long positions above 17.4700 with targets at 17.7700 & 17.9300 in extension.
Alternative scenario
Below 17.4700 look for further downside with 17.3300 & 17.2000 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Crude Oil (WTI)
Key resistance at 53.85.
Pivot (invalidation): 53.85
Our preference
Short positions below 53.85 with targets at 53.00 & 52.30 in extension.
Alternative scenario
Above 53.85 look for further upside with 54.30 & 54.75 as targets.
Comment
The upward potential is likely to be limited by the resistance at 53.85.
This report has been prepared by Swissquote Bank Ltd 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 Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd 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.
Recommended Content
Editors’ Picks
EUR/USD fluctuates in daily range above 1.0600
EUR/USD struggles to gather directional momentum and continues to fluctuate above 1.0600 on Tuesday. The modest improvement seen in risk mood limits the US Dollar's gains as investors await Fed Chairman Jerome Powell's speech.
GBP/USD stabilizes near 1.2450 ahead of Powell speech
GBP/USD holds steady at around 1.2450 after recovering from the multi-month low it touched near 1.2400 in the European morning. The USD struggles to gather strength after disappointing housing data. Market focus shifts to Fed Chairman Powell's appearance.
Gold retreats to $2,370 as US yields push higher
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
XRP struggles below $0.50 resistance as SEC vs. Ripple lawsuit likely to enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
US outperformance continues
The economic divergence between the US and the rest of the world has become increasingly pronounced. The latest US inflation prints highlight that underlying inflation pressures seemingly remain stickier than in most other parts of the world.