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.
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.
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