Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Bullish bias above 1507.00.
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Pivot (invalidation): 1507.00
Our preference
Long positions above 1507.00 with targets at 1516.00 & 1519.50 in extension.
Alternative scenario
Below 1507.00 look for further downside with 1503.00 & 1499.50 as targets.
Comment
The RSI is mixed with a bullish bias.
Silver spot ($)
Expect 18.3200.
Pivot (invalidation): 17.9900
Our preference
Long positions above 17.9900 with targets at 18.2500 & 18.3200 in extension.
Alternative scenario
Below 17.9900 look for further downside with 17.9100 & 17.8400 as targets.
Comment
The RSI calls for a new upleg.
Crude Oil (WTI)
The bias remains bullish.
Pivot (invalidation): 55.60
Our preference
Long positions above 55.60 with targets at 56.40 & 56.90 in extension.
Alternative scenario
Below 55.60 look for further downside with 55.05 & 54.60 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
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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