Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Capped by a negative trend line
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Pivot (invalidation): 1498.00
Our preference
Short positions below 1498.00 with targets at 1484.00 & 1479.00 in extension.
Alternative scenario
Above 1498.00 look for further upside with 1505.00 & 1514.00 as targets.
Comment
As Long as the resistance at 1498.00 is not surpassed, the risk of the break below 1484.00 remains high.
Silver spot ($)
Caution
Pivot (invalidation): 18.1700
Our preference
Short positions below 18.1700 with targets at 17.9500 & 17.8700 in extension.
Alternative scenario
Above 18.1700 look for further upside with 18.3000 & 18.4500 as targets.
Comment
The RSI is mixed and calls for caution.
Crude Oil (WTI)
Consolidation in place
Pivot (invalidation): 58.20
Our preference
Short positions below 58.20 with targets at 57.20 & 56.70 in extension.
Alternative scenario
Above 58.20 look for further upside with 58.75 & 59.25 as targets.
Comment
As Long as 58.20 is resistance, expect a return to 57.20.
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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