Gold spot ($)

The bias remains bullish.

Gold

 


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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.

Silver

 

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.

Crude Oil

 

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 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.

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