Gold spot: The bias remains bullish

XAUUSD


 

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Pivot (invalidation): 1858.00

Our preference
Long positions above 1858.00 with targets at 1877.00 & 1884.00 in extension.

Alternative scenario
Below 1858.00 look for further downside with 1848.00 & 1840.00 as targets

Comment
The RSI shows upside momentum.

Silver spot: Continuation of the rebound

XAGUSD

Pivot (invalidation): 22.5000

Our preference
Long positions above 22.5000 with targets at 23.3500 & 23.9000 in extension.

Alternative scenario
Below 22.5000 look for further downside with 22.0000 & 21.6500 as targets.

Comment
The RSI calls for a rebound.

Crude Oil (WTI): Target 41.20

Crude Oil

Pivot (invalidation): 40.10

Our preference
Long positions above 40.10 with targets at 40.75 & 41.20 in extension.

Alternative scenario
Below 40.10 look for further downside with 39.70 & 39.40 as targets.

Comment
The RSI calls for a new upleg.

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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