Gold spot ($)

1274.00 expected.

Gold


 

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Pivot (invalidation): 1284.50

Our preference
Short positions below 1284.50 with targets at 1278.00 & 1274.00 in extension.

Alternative scenario
Above 1284.50 look for further upside with 1286.50 & 1288.50 as targets.

Comment
A break below 1278.00 would trigger a drop towards 1274.00.

 

Silver spot ($)

Capped by a negative trend line.

Silver

Pivot (invalidation): 14.9800

Our preference
Short positions below 14.9800 with targets at 14.8400 & 14.7900 in extension.

Alternative scenario
Above 14.9800 look for further upside with 15.0300 & 15.0800 as targets.

Comment
As Long as 14.9800 is resistance, look for choppy price action with a bearish bias.

 

Crude Oil (WTI)

The downside prevails.

Oil

Pivot (invalidation): 63.95

Our preference
Short positions below 63.95 with targets at 62.75 & 62.25 in extension.

Alternative scenario
Above 63.95 look for further upside with 64.35 & 64.70 as targets.

Comment
The RSI advocates for further decline.

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.

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