Gold spot ($)
Under pressure.
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Pivot (invalidation): 1226.00
Our preference
Short positions below 1226.00 with targets at 1217.50 & 1213.50 in extension.
Alternative scenario
Above 1226.00 look for further upside with 1229.00 & 1234.00 as targets.
Comment
The RSI advocates for further decline.
Silver spot ($)
Under pressure.
Pivot (invalidation): 14.4200
Our preference
Short positions below 14.4200 with targets at 14.2000 & 14.0800 in extension.
Alternative scenario
Above 14.4200 look for further upside with 14.4900 & 14.5700 as targets.
Comment
The RSI advocates for further decline.
Crude Oil (WTI)
Under pressure.
Pivot (invalidation): 55.00
Our preference
Short positions below 55.00 with targets at 52.85 & 52.10 in extension.
Alternative scenario
Above 55.00 look for further upside with 55.45 & 56.10 as targets.
Comment
The RSI is capped by a bearish trend line.
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.
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