Gold spot intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot: The downside prevails

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Pivot (invalidation): 1809.00

Our preference
Short positions below 1809.00 with targets at 1788.00 & 1780.00 in extension.

Alternative scenario
Above 1809.00 look for further upside with 1813.00 & 1818.00 as targets.

Comment
The RSI is bearish and calls for further downside.

Silver spot: Break of a ST rising trendline support

Pivot (invalidation): 19.2300

Our preference
Short positions below 19.2300 with targets at 18.8100 & 18.6300 in extension.

Alternative scenario
Above 19.2300 look for further upside with 19.3700 & 19.4800 as targets.

Comment
The RSI is bearish and calls for further downside.

Crude Oil (WTI): Expect 38.00

Pivot (invalidation): 39.90

Our preference
Short positions below 39.90 with targets at 38.55 & 38.00 in extension.

Alternative scenario
Above 39.90 look for further upside with 40.30 & 40.70 as targets.

Comment
The RSI has broken down its 30 level.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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