Gold spot ($) Intraday: 1289.25 expected

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

1289.25 expected.

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Pivot (invalidation): 1299.50

Our preference
Short positions below 1299.50 with targets at 1293.25 & 1289.25 in extension.

Alternative scenario
Above 1299.50 look for further upside with 1303.00 & 1306.00 as targets.

Comment
The RSI calls for a new downleg.

Silver spot ($)

Bullish bias above 14.7100.

Pivot (invalidation): 14.7100

Our preference
Long positions above 14.7100 with targets at 14.8600 & 14.9000 in extension.

Alternative scenario
Below 14.7100 look for further downside with 14.6700 & 14.6000 as targets.

Comment
A support base at 14.7100 has formed and has allowed for a temporary stabilisation.

Crude Oil (WTI)

60.65 expected.

Pivot (invalidation): 61.75

Our preference
Short positions below 61.75 with targets at 61.15 & 60.65 in extension.

Alternative scenario
Above 61.75 look for further upside with 62.10 & 62.65 as targets.

Comment
The RSI has just struck against its neutrality area at 50% and is reversing down. The 20-period moving average is about to cross below the 50-period moving average.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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