Gold spot ($)

Consolidation in place

GOLD

 


 

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Pivot (invalidation): 1501.00

Our preference
Short positions below 1501.00 with targets at 1485.00 & 1479.50 in extension.

Alternative scenario
Above 1501.00 look for further upside with 1505.00 & 1510.00 as targets.

Comment
As Long as 1501.00 is resistance, look for choppy price action with a bearish bias.

 

Silver spot ($)

Range

SILVER

Pivot (invalidation): 18.2500

Our preference
Short positions below 18.2500 with targets at 17.8700 & 17.7500 in extension.

Alternative scenario
Above 18.2500 look for further upside with 18.4500 & 18.5500 as targets.

Comment
As Long as 18.2500 is resistance, expect a return to 17.8700.

 

Crude Oil (WTI)

Key resistance at 56.65

OIL

Pivot (invalidation): 56.65

Our preference
Short positions below 56.65 with targets at 55.60 & 55.00 in extension.

Alternative scenario
Above 56.65 look for further upside with 57.25 & 57.95 as targets.

Comment
As Long as the resistance at 56.65 is not surpassed, the risk of the break below 55.60 remains high.

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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