Silver spot Intraday: caution

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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