Crude Oil (WTI) Intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Key resistance at 1293.00.

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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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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