Gold spot intraday: The bias remains bullish

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot: The bias remains bullish

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Pivot (invalidation): 1786.00

Our preference
Long positions above 1786.00 with targets at 1803.00 & 1811.00 in extension.

Alternative scenario
Below 1786.00 look for further downside with 1781.00 & 1775.00 as targets.

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

Silver spot: Expect 18.5200

Pivot (invalidation): 18.1400

Our preference
Long positions above 18.1400 with targets at 18.4400 & 18.5200 in extension.

Alternative scenario
Below 18.1400 look for further downside with 18.0600 & 17.9700 as targets.

Comment
The RSI lacks downward momentum.

Crude Oil (WTI): Bounce

Pivot (invalidation): 40.25

Our preference
Long positions above 40.25 with targets at 41.10 & 41.40 in extension.

Alternative scenario
Below 40.25 look for further downside with 39.90 & 39.60 as targets.

Comment
The RSI calls for a bounce.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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