Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Key resistance at 1595.00.
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Pivot (invalidation): 1595.00
Our preference
Short positions below 1595.00 with targets at 1566.00 & 1558.00 in extension.
Alternative scenario
Above 1595.00 look for further upside with 1604.00 & 1613.00 as targets.
Comment
As Long as the resistance at 1595.00 is not surpassed, the risk of the break below 1566.00 remains high.
Silver spot ($)
Consolidation.
Pivot (invalidation): 14.1500
Our preference
Short positions below 14.1500 with targets at 13.8900 & 13.7900 in extension.
Alternative scenario
Above 14.1500 look for further upside with 14.2500 & 14.3900 as targets.
Comment
As Long as 14.1500 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI)
Key resistance at 20.95.
Pivot (invalidation): 20.95
Our preference
Short positions below 20.95 with targets at 20.00 & 19.25 in extension.
Alternative scenario
Above 20.95 look for further upside with 21.45 & 21.90 as targets.
Comment
The RSI lacks upward momentum.
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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