Silver spot intraday: The bias remains bullish

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

The bias remains bullish.

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Pivot (invalidation): 1636.00

Our preference
Long positions above 1636.00 with targets at 1678.00 & 1697.00 in extension.

Alternative scenario
Below 1636.00 look for further downside with 1624.00 & 1610.00 as targets.

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

Silver spot ($)

The bias remains bullish.

Pivot (invalidation): 14.9300

Our preference
Long positions above 14.9300 with targets at 15.5500 & 15.8000 in extension.

Alternative scenario
Below 14.9300 look for further downside with 14.7000 & 14.5000 as targets.

Comment
A support base at 14.9300 has formed and has allowed for a temporary stabilisation.

Crude Oil (WTI)

Rebound expected.

Pivot (invalidation): 25.90

Our preference
Long positions above 25.90 with targets at 28.20 & 29.10 in extension.

Alternative scenario
Below 25.90 look for further downside with 25.30 & 24.45 as targets.

Comment
The RSI calls for a rebound.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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