Gold spot ($)

The bias remains bullish.

GOLD

 


 

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Pivot (invalidation): 1417.00

Our preference
Long positions above 1417.00 with targets at 1430.00 & 1434.00 in extension.

Alternative scenario
Below 1417.00 look for further downside with 1410.00 & 1406.00 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

 

Silver spot ($)

The upside prevails.

SILVER

 

Pivot (invalidation): 15.9000

Our preference
Long positions above 15.9000 with targets at 16.2400 & 16.3600 in extension.

Alternative scenario
Below 15.9000 look for further downside with 15.8000 & 15.6500 as targets.

Comment
The RSI shows upside momentum.

 

Crude Oil (WTI)

OIL

 

Key resistance at 57.15.

Pivot (invalidation): 57.15

Our preference
Short positions below 57.15 with targets at 56.20 & 55.85 in extension.

Alternative scenario
Above 57.15 look for further upside with 57.60 & 58.20 as targets.

Comment
As Long as the resistance at 57.15 is not surpassed, the risk of the break below 56.20 remains high.

This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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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