Gold spot intraday: Key resistance at 1595.00

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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