Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
The upside prevails.
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Pivot (invalidation): 1205.00
Our preference
Long positions above 1205.00 with targets at 1210.00 & 1214.00 in extension.
Alternative scenario
Below 1205.00 look for further downside with 1203.00 & 1199.50 as targets.
Comment
The RSI shows upside momentum.
Silver spot ($)
Further advance.
Pivot (invalidation): 14.2500
Our preference
Long positions above 14.2500 with targets at 14.4400 & 14.5300 in extension.
Alternative scenario
Below 14.2500 look for further downside with 14.1900 & 14.1300 as targets.
Comment
The RSI is bullish and calls for further upside.
Crude Oil (WTI)
Under pressure.
Pivot (invalidation): 70.85
Our preference
Short positions below 70.85 with targets at 69.95 & 69.35 in extension.
Alternative scenario
Above 70.85 look for further upside with 71.35 & 71.75 as targets.
Comment
The RSI advocates for further decline. The prices broke below a bullish channel.
This report has been prepared by Swissquote Bank Ltd 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 Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd 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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