Crude Oil (WTI) Intraday: Under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Caution.

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Pivot (invalidation): 1230.50

Our preference
Long positions above 1230.50 with targets at 1235.00 & 1237.50 in extension.

Alternative scenario
Below 1230.50 look for further downside with 1228.00 & 1224.00 as targets.

Comment
A break below 1235.00 would trigger a drop towards 1237.50.

Silver spot ($)

Turning down.

Pivot (invalidation): 14.7800

Our preference
Short positions below 14.7800 with targets at 14.6200 & 14.5500 in extension.

Alternative scenario
Above 14.7800 look for further upside with 14.8500 & 14.9100 as targets.

Comment
The RSI advocates for further decline.

Crude Oil (WTI)

Under pressure.

Pivot (invalidation): 63.30

Our preference
Short positions below 63.30 with targets at 62.25 & 61.75 in extension.

Alternative scenario
Above 63.30 look for further upside with 63.90 & 64.70 as targets.

Comment
The RSI advocates for further downside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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