Crude Oil (WTI) Levels: Further advance

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

The downside prevails.

Stay on top of the markets with Swissquote’s News & Analysis

Pivot (invalidation): 1197.25

Our preference
Short positions below 1197.25 with targets at 1192.50 & 1190.00 in extension.

Alternative scenario
Above 1197.25 look for further upside with 1200.00 & 1202.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Silver spot ($)

Turning down.

Pivot (invalidation): 14.1600

Our preference
Short positions below 14.1600 with targets at 14.0500 & 13.9900 in extension.

Alternative scenario
Above 14.1600 look for further upside with 14.2300 & 14.3000 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI)

Further advance.

Pivot (invalidation): 69.20

Our preference
Long positions above 69.20 with targets at 70.15 & 70.80 in extension.

Alternative scenario
Below 69.20 look for further downside with 68.50 & 67.90 as targets.

Comment
The RSI advocates for further advance.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.