Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
The bias remains bullish.
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Pivot (invalidation): 1498.00
Our preference
Long positions above 1498.00 with targets at 1509.00 & 1512.50 in extension.
Alternative scenario
Below 1498.00 look for further downside with 1493.00 & 1488.00 as targets.
Comment
The RSI lacks downward momentum.
Silver spot ($)
Caution.
Pivot (invalidation): 17.0500
Our preference
Long positions above 17.0500 with targets at 17.1500 & 17.2000 in extension.
Alternative scenario
Below 17.0500 look for further downside with 16.9800 & 16.9300 as targets.
Comment
A support base at 17.0500 has formed and has allowed for a temporary stabilisation.
Crude Oil (WTI)
Towards 54.85.
Pivot (invalidation): 56.20
Our preference
Short positions below 56.20 with targets at 55.15 & 54.85 in extension.
Alternative scenario
Above 56.20 look for further upside with 56.60 & 56.95 as targets.
Comment
The RSI is bearish and calls for further downside.
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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