Gold spot: The downside prevails

XAUUSD

 


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Pivot (invalidation): 1953.00

Our preference
Short positions below 1953.00 with targets at 1929.00 & 1919.00 in extension.

Alternative scenario
Above 1953.00 look for further upside with 1962.00 & 1973.00 as targets.

Comment
The RSI shows downside momentum.

Silver spot: The downside prevails

XAGUSD

Pivot (invalidation): 27.1000

Our preference
Short positions below 27.1000 with targets at 26.5400 & 26.2000 in extension.

Alternative scenario
Above 27.1000 look for further upside with 27.4300 & 27.6100 as targets.

Comment
A break below 26.5400 would trigger a drop towards 26.2000.

Crude Oil (WTI): The bias remains bullish

Crude Oil

Pivot (invalidation): 39.40

Our preference
Long positions above 39.40 with targets at 40.30 & 40.85 in extension.

Alternative scenario
Below 39.40 look for further downside with 38.80 & 38.25 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 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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