Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
The bias remains bullish.
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1705.00
Our preference
Long positions above 1705.00 with targets at 1723.00 & 1730.00 in extension.
Alternative scenario
Below 1705.00 look for further downside with 1697.00 & 1690.00 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
Silver spot ($)
Choppy.
Pivot (invalidation): 15.4000
Our preference
Long positions above 15.4000 with targets at 15.6500 & 15.7300 in extension.
Alternative scenario
Below 15.4000 look for further downside with 15.3100 & 15.2200 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Crude Oil (WTI)
Intraday support around 24.80.
Pivot (invalidation): 24.80
Our preference
Long positions above 24.80 with targets at 25.90 & 26.45 in extension.
Alternative scenario
Below 24.80 look for further downside with 24.20 & 23.70 as targets.
Comment
A support base at 24.80 has formed and has allowed for a temporary stabilisation.
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.
Recommended Content
Editors’ Picks
AUD/USD holds gains near 0.7000 amid PBOC's status-quo, Gold price surge
AUD/USD is clinging to mild gains near 0.7000 early Monday. The pair benefits from a risk-on market profile, China's steady policy rates and surging Gold and Copper prices. Focus now remains on Fedspeak for fresh impetus.
Gold price hits an all-time high to near $2,440
Gold price (XAU/USD) climbs to a new record high near $2,441 during the Asian trading hours on Monday. The bullish move of the precious metal is bolstered by the renewed hopes for interest rate cuts from the US Federal Reserve (Fed).
EUR/USD gains ground above 1.0850, focus on Fedspeak
The EUR/USD pair trades on a stronger note around 1.0875 on Monday during the early Asian trading hours. The uptick in the major pair is bolstered by the softer Greenback. The Federal Reserve’s Bostic, Barr, Waller, Jefferson, and Mester are scheduled to speak on Monday.
AI tokens could really ahead of Nvidia earnings
Native cryptocurrencies of several blockchain projects using Artificial Intelligence could register gains in the coming week as the market prepares for NVIDIA earnings report.
Week ahead: Flash PMIs, UK and Japan CPIs in focus. RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.