Gold spot ($)

Under pressure.

GOLD

 


 

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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.

SILVER

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.

OIL

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.

This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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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