Gold spot Intraday: towards 1517.50

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Towards 1517.50.

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Pivot (invalidation): 1496.00

Our preference
Long positions above 1496.00 with targets at 1512.00 & 1517.50 in extension.

Alternative scenario
Below 1496.00 look for further downside with 1491.00 & 1486.00 as targets.

Comment
The RSI is mixed to bullish.

Silver spot ($)

Bullish bias above 17.6000.

Pivot (invalidation): 17.6000

Our preference
Long positions above 17.6000 with targets at 17.9900 & 18.1900 in extension.

Alternative scenario
Below 17.6000 look for further downside with 17.3800 & 17.2800 as targets.

Comment
The RSI is mixed with a bullish bias.

Crude Oil (WTI)

Consolidation in place.

Pivot (invalidation): 61.50

Our preference
Short positions below 61.50 with targets at 58.75 & 57.20 in extension.

Alternative scenario
Above 61.50 look for further upside with 63.25 & 64.25 as targets.

Comment
The RSI has just broken down its overbought area (70%).

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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