Crude Oil (WTI) IntradayL: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Capped by a negative trend line.

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Pivot (invalidation): 1276.25

Our preference
Short positions below 1276.25 with targets at 1269.25 & 1265.50 in extension.

Alternative scenario
Above 1276.25 look for further upside with 1279.00 & 1282.00 as targets.

Comment
The RSI calls for a drop.

Silver spot ($)

14.3100 in sight.

Pivot (invalidation): 14.4800

Our preference
Short positions below 14.4800 with targets at 14.3600 & 14.3100 in extension.

Alternative scenario
Above 14.4800 look for further upside with 14.5300 & 14.5700 as targets.

Comment
As Long as the resistance at 14.4800 is not surpassed, the risk of the break below 14.3600 remains high.

Crude Oil (WTI)

The downside prevails.

Pivot (invalidation): 63.20

Our preference
Short positions below 63.20 with targets at 62.20 & 61.75 in extension.

Alternative scenario
Above 63.20 look for further upside with 63.55 & 63.75 as targets.

Comment
The RSI shows downside momentum.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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