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.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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