Gold Spot ($) Intraday: under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

Gold Spot ($)

Under pressure.

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Pivot (invalidation): 1557.50

Our preference
Short positions below 1557.50 with targets at 1546.00 & 1542.00 in extension.

Alternative scenario
Above 1557.50 look for further upside with 1561.00 & 1564.50 as targets.

Comment
The RSI advocates for further downside.

Silver Spot ($)

Look for 17.5100.

Pivot (invalidation): 17.8100

Our preference
Short positions below 17.8100 with targets at 17.6100 & 17.5100 in extension.

Alternative scenario
Above 17.8100 look for further upside with 17.9100 & 18.0400 as targets.

Comment
A break below 17.6100 would trigger a drop towards 17.5100.

Crude Oil (WTI)

Caution.

Pivot (invalidation): 58.05

Our preference
Long positions above 58.05 with targets at 58.35 & 58.55 in extension.

Alternative scenario
Below 58.05 look for further downside with 57.70 & 57.40 as targets.

Comment
The RSI is mixed and calls for caution.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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