Gold spot Intraday: key resistance at 1497.50

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Key resistance at 1497.50.

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Pivot (invalidation): 1497.50

Our preference
Short positions below 1497.50 with targets at 1483.00 & 1479.00 in extension.

Alternative scenario
Above 1497.50 look for further upside with 1501.00 & 1507.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Silver spot ($)

17.3800 in sight.

Pivot (invalidation): 17.8200

Our preference
Short positions below 17.8200 with targets at 17.5000 & 17.3800 in extension.

Alternative scenario
Above 17.8200 look for further upside with 17.9900 & 18.0800 as targets.

Comment
The RSI is bearish and calls for further downside.

Crude Oil (WTI)

Under pressure.

Pivot (invalidation): 58.90

Our preference
Short positions below 58.90 with targets at 57.65 & 57.20 in extension.

Alternative scenario
Above 58.90 look for further upside with 59.45 & 60.40 as targets.

Comment
As Long as the resistance at 58.90 is not surpassed, the risk of the break below 57.65 remains high.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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