Gold Spot ($) Intraday: support around 1476.50

Swissquote Bank Research Team Swissquote Bank Ltd

Gold Spot ($)

Intraday support around 1476.50.

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Pivot (invalidation): 1476.50

Our preference
Long positions above 1476.50 with targets at 1481.50 & 1484.00 in extension.

Alternative scenario
Below 1476.50 look for further downside with 1474.00 & 1471.50 as targets.

Comment
A support base at 1476.50 has formed and has allowed for a temporary stabilisation.

Silver Spot ($)

Bullish bias above 17.0000.

Pivot (invalidation): 17.0000

Our preference
Long positions above 17.0000 with targets at 17.1200 & 17.1700 in extension.

Alternative scenario
Below 17.0000 look for further downside with 16.9300 & 16.8700 as targets.

Comment
The RSI is mixed to bullish.

Crude Oil (WTI)

Target 61.60.

Pivot (invalidation): 60.70

Our preference
Long positions above 60.70 with targets at 61.40 & 61.60 in extension.

Alternative scenario
Below 60.70 look for further downside with 60.50 & 60.25 as targets.

Comment
The RSI calls for a new upleg.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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