Gold spot ($)

Range.

GOLD


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Pivot (invalidation): 1272.00

Our preference
Long positions above 1272.00 with targets at 1277.50 & 1279.50 in extension.

Alternative scenario
Below 1272.00 look for further downside with 1269.50 & 1267.50 as targets.

Comment
The RSI lacks downward momentum.

 

Silver spot ($)

Intraday support around 14.3700.

SILVER

Pivot (invalidation): 14.3700

Our preference
Long positions above 14.3700 with targets at 14.5000 & 14.5600 in extension.

Alternative scenario
Below 14.3700 look for further downside with 14.3300 & 14.2800 as targets.

Comment
A support base at 14.3700 has formed and has allowed for a temporary stabilisation.

 

Crude Oil (WTI)

The downside prevails.

OIL

Pivot (invalidation): 61.70

Our preference
Short positions below 61.70 with targets at 60.80 & 60.15 in extension.

Alternative scenario
Above 61.70 look for further upside with 62.05 & 62.75 as targets.

Comment
The RSI advocates for further decline.

This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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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