Gold spot ($)
Consolidation in place.
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Pivot (invalidation): 1464.00
Our preference
Short positions below 1464.00 with targets at 1457.00 & 1453.00 in extension.
Alternative scenario
Above 1464.00 look for further upside with 1466.50 & 1470.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Silver spot ($)
Choppy.
Pivot (invalidation): 16.9900
Our preference
Short positions below 16.9900 with targets at 16.8700 & 16.8300 in extension.
Alternative scenario
Above 16.9900 look for further upside with 17.0400 & 17.1100 as targets.
Comment
As Long as 16.9900 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI)
Rebound expected.
Pivot (invalidation): 55.45
Our preference
Long positions above 55.45 with targets at 56.60 & 57.10 in extension.
Alternative scenario
Below 55.45 look for further downside with 55.00 & 54.55 as targets.
Comment
The RSI calls for a rebound.
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.
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