Gold spot Intraday: key resistance at 1513.00

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Key resistance at 1513.00

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Pivot (invalidation): 1513.00

Our preference
Short positions below 1513.00 with targets at 1502.00 & 1493.00 in extension.

Alternative scenario
Above 1513.00 look for further upside with 1519.00 & 1528.00 as targets.

Comment
As Long as the resistance at 1513.00 is not surpassed, the risk of the break below 1502.00 remains high.

Silver spot ($)

Under pressure

Pivot (invalidation): 18.3100

Our preference
Short positions below 18.3100 with targets at 17.7100 & 17.5200 in extension.

Alternative scenario
Above 18.3100 look for further upside with 18.5600 & 18.7800 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI)

Aim @ 58.10

Pivot (invalidation): 56.40

Our preference
Long positions above 56.40 with targets at 57.75 & 58.10 in extension.

Alternative scenario
Below 56.40 look for further downside with 56.00 & 55.60 as targets.

Comment
The RSI is bullish and calls for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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