Gold spot ($)

Intraday support around 1495.50.

gold

 


 

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Pivot (invalidation): 1495.50

Our preference
Long positions above 1495.50 with targets at 1507.00 & 1512.00 in extension.

Alternative scenario
Below 1495.50 look for further downside with 1491.00 & 1486.00 as targets.

Comment
The RSI is mixed with a bullish bias.

 

Silver spot ($)

Supported by a rising trend line.

silver

Pivot (invalidation): 17.8700

Our preference
Long positions above 17.8700 with targets at 18.0900 & 18.1800 in extension.

Alternative scenario
Below 17.8700 look for further downside with 17.7300 & 17.6100 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

 

Crude Oil (WTI)

Under pressure.

oil

Pivot (invalidation): 60.40

Our preference
Short positions below 60.40 with targets at 57.20 & 56.30 in extension.

Alternative scenario
Above 60.40 look for further upside with 61.45 & 62.55 as targets.

Comment
The RSI advocates for further downside.

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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