Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
The downside prevails.
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Pivot (invalidation): 1197.25
Our preference
Short positions below 1197.25 with targets at 1192.50 & 1190.00 in extension.
Alternative scenario
Above 1197.25 look for further upside with 1200.00 & 1202.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Silver spot ($)
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.
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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