Gold spot intraday: Key resistance at 1885.00

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot: Key resistance at 1885.00

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Pivot (invalidation): 1885.00

Our preference
Short positions below 1885.00 with targets at 1869.00 & 1864.00 in extension.

Alternative scenario
Above 1885.00 look for further upside with 1891.00 & 1899.00 as targets.

Comment
As Long as the resistance at 1885.00 is not surpassed, the risk of the break below 1869.00 remains high.

Silver spot: Key resistance at 23.6400

Pivot (invalidation): 23.6400

Our preference
Short positions below 23.6400 with targets at 23.0000 & 22.7300 in extension.

Alternative scenario
Above 23.6400 look for further upside with 23.8100 & 24.0700 as targets.

Comment
The immediate trend remains down but the momentum is weak.

Crude Oil (WTI): Expect 36.30

Pivot (invalidation): 38.00

Our preference
Short positions below 38.00 with targets at 36.95 & 36.30 in extension.

Alternative scenario
Above 38.00 look for further upside with 38.30 & 38.80 as targets.

Comment
The RSI has just struck against its neutrality area at 50% and is reversing down.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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