Gold spot ($)
Key resistance at 1293.00.
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1293.00
Our preference
Short positions below 1293.00 with targets at 1288.50 & 1286.00 in extension.
Alternative scenario
Above 1293.00 look for further upside with 1295.00 & 1297.00 as targets.
Comment
A break below 1288.50 would trigger a drop towards 1286.00.
Silver spot ($)
Under pressure.
Pivot (invalidation): 15.6500
Our preference
Short positions below 15.6500 with targets at 15.5200 & 15.4500 in extension.
Alternative scenario
Above 15.6500 look for further upside with 15.7200 & 15.7800 as targets.
Comment
The RSI is mixed to bearish.
Crude Oil (WTI)
The downside prevails.
Pivot (invalidation): 52.10
Our preference
Short positions below 52.10 with targets at 50.20 & 49.50 in extension.
Alternative scenario
Above 52.10 look for further upside with 52.90 & 53.35 as targets.
Comment
The RSI advocates for further decline.
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.
Recommended Content
Editors’ Picks
AUD/USD remains under pressure above 0.6400
AUD/USD managed to regain some composure and rebounded markedly from Tuesday’s YTD lows in the sub-0.6400 region ahead of the release of the Australian labour market report on Thursday.
EUR/USD faces decent contention around 1.0600
The knee-jerk in the Greenback reignited some buying interest in the risk complex and pushed EUR/USD to three-day highs near 1.0680, rapidly leaving behind the recent yearly low around 1.0600.
Gold dips on falling US yields as traders shrug off hawkish Fed remarks
Gold prices retreated from close to weekly highs during the North American session on Wednesday amid an improvement in risk appetite. The bullish impulse arrived despite hawkish commentary by US Federal Reserve officials.
Bitcoin price uptrend to continue post-halving, Bernstein report says as traders remain in disarray
Bitcoin price is dropping amid elevated risk levels in the market. It comes as traders count hours to the much-anticipated halving event. Amid the market lull, experts say we may not see a rally until after the halving.
Australia unemployment rate expected to rise back to 3.9% in March as February boost fades
Australia will publish its monthly employment report first thing Thursday. The Australian Bureau of Statistics is expected to announce the country added measly 7.2K new positions in March after the outstanding 116.5K jobs created in February.