Gold Spot ($) Intraday: Break of a ST rising trendline support

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Break of a ST rising trendline support.

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Pivot (invalidation): 1308.50

Our preference
Short positions below 1308.50 with targets at 1303.50 & 1300.50 in extension.

Alternative scenario
Above 1308.50 look for further upside with 1311.50 & 1315.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Silver spot ($)

Watch 15.2800.

Pivot (invalidation): 15.4900

Our preference
Short positions below 15.4900 with targets at 15.3400 & 15.2800 in extension.

Alternative scenario
Above 15.4900 look for further upside with 15.5400 & 15.6200 as targets.

Comment
The RSI lacks downward momentum.

Crude Oil (WTI)

Further advance.

Pivot (invalidation): 57.50

Our preference
Long positions above 57.50 with targets at 58.70 & 59.40 in extension.

Alternative scenario
Below 57.50 look for further downside with 57.05 & 56.75 as targets.

Comment
The RSI is bullish and calls for further advance.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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