Crude Oil (WTI) Intraday: Under pressure

Gold spot ($)

Caution.

Gold

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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.

Silver

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.

Crude Oil

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.

This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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.