Gold spot Intraday: The upside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

The upside prevails.

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Pivot (invalidation): 1246.00

Our preference
Long positions above 1246.00 with targets at 1256.00 & 1258.50 in extension.

Alternative scenario
Below 1246.00 look for further downside with 1242.50 & 1240.00 as targets.

Comment
The RSI is bullish and calls for further upside.

Silver spot ($)

Rebound expected.

Pivot (invalidation): 14.5800

Our preference
Long positions above 14.5800 with targets at 14.7500 & 14.8000 in extension.

Alternative scenario
Below 14.5800 look for further downside with 14.5200 & 14.4700 as targets.

Comment
A support base at 14.5800 has formed and has allowed for a temporary stabilisation.

Crude Oil (WTI)

Under pressure.

Pivot (invalidation): 47.60

Our preference
Short positions below 47.60 with targets at 44.60 & 43.85 in extension.

Alternative scenario
Above 47.60 look for further upside with 48.30 & 49.30 as targets.

Comment
The RSI is bearish and calls for further downside.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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