Gold Spot Levels: Consolidation in place

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Consolidation in place.

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Pivot (invalidation): 1215.00

Our preference
Short positions below 1215.00 with targets at 1206.75 & 1204.00 in extension.

Alternative scenario
Above 1215.00 look for further upside with 1217.25 & 1220.25 as targets.

Comment
As Long as 1215.00 is resistance, look for choppy price action with a bearish bias.

Silver spot ($)

Target 15.2100.

Pivot (invalidation): 15.3800

Our preference
Short positions below 15.3800 with targets at 15.2100 & 15.1600 in extension.

Alternative scenario
Above 15.3800 look for further upside with 15.4300 & 15.5100 as targets.

Comment
The RSI is mixed to bearish.

Crude Oil (WTI)

Aim @ 68.60.

Pivot (invalidation): 67.10

Our preference
Long positions above 67.10 with targets at 68.00 & 68.60 in extension.

Alternative scenario
Below 67.10 look for further downside with 66.50 & 66.10 as targets.

Comment
The RSI is mixed to bullish.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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