Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Capped by a negative trend line.
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Pivot (invalidation): 1290.00
Our preference
Short positions below 1290.00 with targets at 1282.50 & 1279.00 in extension.
Alternative scenario
Above 1290.00 look for further upside with 1291.75 & 1295.00 as targets.
Comment
The RSI advocates for further downside.
Silver spot ($)
Towards 14.7800.
Pivot (invalidation): 15.0300
Our preference
Short positions below 15.0300 with targets at 14.8300 & 14.7800 in extension.
Alternative scenario
Above 15.0300 look for further upside with 15.1000 & 15.1600 as targets.
Comment
As Long as 15.0300 is resistance, expect a return to 14.8300.
Crude Oil (WTI)
Under pressure.
Pivot (invalidation): 63.60
Our preference
Short positions below 63.60 with targets at 63.05 & 62.75 in extension.
Alternative scenario
Above 63.60 look for further upside with 64.00 & 64.30 as targets.
Comment
The RSI is bearish and calls 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.
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