Gold Spot Levels: Rebound expected

Gold spot ($)

Rebound expected.

Gold


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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.

XAGUSD

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.

Oil

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.

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.