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%).
This report has been prepared by Swissquote Bank Ltd 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 Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd 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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