Gold Spot Intraday: The downside prevails

Gold spot ($)

The downside prevails.


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Gold

Pivot (invalidation): 1224.00

Our preference
Short positions below 1224.00 with targets at 1212.00 & 1209.00 in extension.

Alternative scenario
Above 1224.00 look for further upside with 1227.00 & 1230.00 as targets.

Comment
The RSI advocates for further decline.

 

Silver spot ($)

Capped by a negative trend line.

Silver

Pivot (invalidation): 14.4500

Our preference
Short positions below 14.4500 with targets at 14.2800 & 14.2100 in extension.

Alternative scenario
Above 14.4500 look for further upside with 14.5400 & 14.6200 as targets.

Comment
The RSI advocates for further decline.

 

Crude Oil (WTI)

The downside prevails.

Crude Oil

Pivot (invalidation): 61.30

Our preference
Short positions below 61.30 with targets at 59.95 & 59.15 in extension.

Alternative scenario
Above 61.30 look for further upside with 61.95 & 62.40 as targets.

Comment
The RSI advocates for further decline.

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.