Gold spot Intraday: under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Under pressure.

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Pivot (invalidation): 1505.00

Our preference
Short positions below 1505.00 with targets at 1488.50 & 1484.00 in extension.

Alternative scenario
Above 1505.00 look for further upside with 1510.50 & 1517.50 as targets.

Comment
The RSI is bearish and calls for further decline.

Silver spot ($)

Consolidation in place.

Pivot (invalidation): 18.2500

Our preference
Short positions below 18.2500 with targets at 17.8700 & 17.7500 in extension.

Alternative scenario
Above 18.2500 look for further upside with 18.3700 & 18.4600 as targets.

Comment
As Long as 18.2500 is resistance, look for choppy price action with a bearish bias.

Crude Oil (WTI)

Intraday support around 54.65.

Pivot (invalidation): 54.65

Our preference
Long positions above 54.65 with targets at 55.30 & 55.60 in extension.

Alternative scenario
Below 54.65 look for further downside with 54.00 & 53.50 as targets.

Comment
The RSI is mixed to bullish.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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