Gold Spot Levels: Rebound expected

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

Rebound expected.

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Pivot (invalidation): 1243.50

Our preference
Long positions above 1243.50 with targets at 1249.00 & 1251.00 in extension.

Alternative scenario
Below 1243.50 look for further downside with 1241.00 & 1239.00 as targets.

Comment
The RSI is mixed to bullish.

Silver spot ($)

Further upside.

Pivot (invalidation): 15.8900

Our preference
Long positions above 15.8900 with targets at 16.0000 & 16.0500 in extension.

Alternative scenario
Below 15.8900 look for further downside with 15.7900 & 15.7400 as targets.

Comment
The RSI is mixed to bullish.

Crude Oil (WTI)

Key resistance at 70.75.

Pivot (invalidation): 70.75

Our preference
Short positions below 70.75 with targets at 69.85 & 69.20 in extension.

Alternative scenario
Above 70.75 look for further upside with 71.20 & 71.80 as targets.

Comment
As Long as the resistance at 70.75 is not surpassed, the risk of the break below 69.85 remains high.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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