Crude Oil (WTI) Intraday: The downside prevails

Gold spot ($)
The upside prevails.
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Pivot (invalidation): 1244.75
Our preference
Long positions above 1244.75 with targets at 1251.00 & 1253.50 in extension.
Alternative scenario
Below 1244.75 look for further downside with 1240.00 & 1236.00 as targets.
Comment
The RSI shows upside momentum.
Silver spot ($)
Aim @ 14.9000.
Pivot (invalidation): 14.5700
Our preference
Long positions above 14.5700 with targets at 14.8000 & 14.9000 in extension.
Alternative scenario
Below 14.5700 look for further downside with 14.5200 & 14.4700 as targets.
Comment
The RSI is bullish and calls for further advance.
Crude Oil (WTI)
The downside prevails.
Pivot (invalidation): 49.85
Our preference
Short positions below 49.85 with targets at 48.60 & 48.00 in extension.
Alternative scenario
Above 49.85 look for further upside with 50.50 & 51.00 as targets.
Comment
The RSI shows downside momentum.
Author

Swissquote Bank Research Team
Swissquote Bank Ltd




















