Crude Oil (WTI) Intraday: watch 52.20

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Further advance.

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Pivot (invalidation): 1561.00

Our preference
Long positions above 1561.00 with targets at 1572.00 & 1579.00 in extension.

Alternative scenario
Below 1561.00 look for further downside with 1556.00 & 1552.50 as targets.

Comment
The RSI is bullish and calls for further advance.

Silver spot ($)

Supported by a rising trend line.

Pivot (invalidation): 17.7000

Our preference
Long positions above 17.7000 with targets at 17.8800 & 17.9700 in extension.

Alternative scenario
Below 17.7000 look for further downside with 17.6200 & 17.5400 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Crude Oil (WTI)

Watch 52.20.

Pivot (invalidation): 50.70

Our preference
Long positions above 50.70 with targets at 51.75 & 52.20 in extension.

Alternative scenario
Below 50.70 look for further downside with 50.25 & 49.85 as targets.

Comment
The RSI calls for a bounce.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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