Gold spot intraday: Bullish bias above 1797.00

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot: Bullish bias above 1797.00

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Pivot (invalidation): 1797.00

Our preference
Long positions above 1797.00 with targets at 1810.00 & 1815.00 in extension.

Alternative scenario
Below 1797.00 look for further downside with 1793.00 & 1786.00 as targets.

Comment
The RSI calls for a rebound.

Silver spot: Towards 19.1800

Pivot (invalidation): 18.6700

Our preference
Long positions above 18.6700 with targets at 19.0300 & 19.1800 in extension.

Alternative scenario
Below 18.6700 look for further downside with 18.5500 & 18.4600 as targets.

Comment
The RSI is bullish and calls for further advance.

Crude Oil (WTI): Intraday support around 39.60

Pivot (invalidation): 39.60

Our preference
Long positions above 39.60 with targets at 40.75 & 41.05 in extension.

Alternative scenario
Below 39.60 look for further downside with 39.00 & 38.55 as targets.

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

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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