Gold spot intraday: The downside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot: The downside prevails

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Pivot (invalidation): 1820.00

Our preference
Short positions below 1820.00 with targets at 1791.00 & 1780.00 in extension.

Alternative scenario
Above 1820.00 look for further upside with 1831.00 & 1841.00 as targets.

Comment
The RSI calls for a new downleg.

Silver spot: Towards 22.7800

Pivot (invalidation): 23.5200

Our preference
Short positions below 23.5200 with targets at 22.9100 & 22.7800 in extension.

Alternative scenario
Above 23.5200 look for further upside with 23.7200 & 23.9000 as targets.

Comment
As Long as the resistance at 23.5200 is not surpassed, the risk of the break below 22.9100 remains high.

Crude Oil (WTI): The upside prevails

Pivot (invalidation): 44.70

Our preference
Long positions above 44.70 with targets at 46.00 & 46.60 in extension.

Alternative scenario
Below 44.70 look for further downside with 44.20 & 43.60 as targets.

Comment
The RSI is bullish and calls for further upside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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