Crude Oil (WTI) Intraday: rebound expected

Swissquote Bank Research Team Swissquote Bank Ltd

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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