Silver spot ($) Intraday: Capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

1274.00 expected.

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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.

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.

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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