Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Turning
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1315.00
Our preference
Short positions below 1315.00 with targets at 1308.00 & 1305.00 in extension.
Alternative scenario
Above 1315.00 look for further upside with 1317.00 & 1319.00 as targets.
Comment
The RSI shows downside momentum.
Silver spot ($)
Turning down.
Pivot (invalidation): 15.8400
Our preference
Short positions below 15.8400 with targets at 15.6800 & 15.6200 in extension.
Alternative scenario
Above 15.8400 look for further upside with 15.9000 & 15.9900 as targets.
Comment
The RSI shows downside momentum.
Crude Oil (WTI)
Turning down.
Pivot (invalidation): 52.60
Our preference
Short positions below 52.60 with targets at 51.70 & 51.30 in extension.
Alternative scenario
Above 52.60 look for further upside with 53.00 & 53.40 as targets.
Comment
The RSI shows downside momentum.
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.
Recommended Content
Editors’ Picks
EUR/USD tests the major level of 1.0650; followed by the nine-day EMA
EUR/USD remains lackluster during the early Tuesday, hovering near 1.0650. From a technical perspective, analysis suggests a bearish sentiment for the pair as it struggles below the pullback resistance at the 1.0695 level.
GBP/USD: Flat lines around mid-1.2300s, bearish potential seems intact
GBP/USD holds steady on Tuesday amid subdued USD demand, albeit lacks bullish conviction. The divergent Fed-BoE policy expectations turn out to be a key factor acting as a headwind. The technical setup suggests that the path of least resistance for the pair is to the downside.
Gold could see a rebound before resuming the correction
Gold price sees a fresh leg down in Asia on Tuesday even as risk flows dissipate. Receding fears over Middle East escalation offset subdued US Dollar and Treasury bond yields. Gold remains heavily oversold on the 4H chart, rebound appears in the offing.
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle price is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin price.
After Monday's relief rally, attention shifts to earnings and policy fronts
With the easing of tensions in the Middle East, safe-haven demand reversed course; global stock markets experienced a modicum of relief. Indeed, in a classic relief rally fashion, Monday saw a rebound in the S&P 500, snapping a six-day losing streak.