Gold Spot ($) Intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

The downside prevails.

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Pivot (invalidation): 1273.00

Our preference
Short positions below 1273.00 with targets at 1266.00 & 1262.00 in extension.

Alternative scenario
Above 1273.00 look for further upside with 1276.50 & 1279.50 as targets.

Comment
The RSI shows downside momentum.

Silver spot ($)

The downside prevails.

Pivot (invalidation): 14.8500

Our preference
Short positions below 14.8500 with targets at 14.7300 & 14.6600 in extension.

Alternative scenario
Above 14.8500 look for further upside with 14.9100 & 14.9800 as targets.

Comment
As Long as the resistance at 14.8500 is not surpassed, the risk of the break below 14.7300 remains high.

Crude Oil (WTI)

Bullish bias above 65.60.

Pivot (invalidation): 65.60

Our preference
Long positions above 65.60 with targets at 66.35 & 66.60 in extension.

Alternative scenario
Below 65.60 look for further downside with 65.25 & 64.70 as targets.

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

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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