Crude Oil (WTI) Intraday: Under pressure

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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