Swissquote Bank Research Team
Swissquote Bank Ltd
Gold Spot ($)
Turning down.
Stay on top of the markets with Swissquote’s News & Analysis
Pivot (invalidation): 1466.00
Our preference
Short positions below 1466.00 with targets at 1462.00 & 1459.00 in extension.
Alternative scenario
Above 1466.00 look for further upside with 1469.00 & 1472.00 as targets.
Comment
The RSI is bearish and calls for further downside.
Silver Spot ($)
Turning down.
Pivot (invalidation): 16.6800
Our preference
Short positions below 16.6800 with targets at 16.5600 & 16.5000 in extension.
Alternative scenario
Above 16.6800 look for further upside with 16.7800 & 16.8800 as targets.
Comment
The RSI shows downside momentum.
Crude Oil (WTI)
Bullish bias above 58.70.
Pivot (invalidation): 58.70
Our preference
Long positions above 58.70 with targets at 59.10 & 59.35 in extension.
Alternative scenario
Below 58.70 look for further downside with 58.50 & 58.20 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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 retreats to 1.0750, eyes on Fedspeak
EUR/USD stays under modest bearish pressure and trades at around 1.0750 on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD remains on the defensive around 1.2500 ahead of BoE
The constructive tone in the Greenback maintains the risk complex under pressure on Wednesday, motivating GBP/USD to add to Tuesday's losses and gyrate around the 1.2500 zone prior to the upcoming BoE's interest rate decision.
Gold fluctuates in narrow range above $2,300
Gold struggles to make a decisive move in either direction and moves sideways in a narrow channel above $2,300. The benchmark 10-year US Treasury bond yield clings to modest gains near 4.5% and limits XAU/USD's upside.
SEC vs. Ripple lawsuit sees redacted filing go public, XRP dips to $0.51
Ripple (XRP) dipped to $0.51 low on Wednesday, erasing its gains from earlier this week. The Securities and Exchange Commission (SEC) filing is now public, in its redacted version.
Softer growth, cooler inflation and rate cuts remain on the horizon
Economic growth in the US appears to be in solid shape. Although real GDP growth came in well below consensus expectations, the headline miss was mostly the result of larger-than-anticipated drags from trade and inventories.