Silver spot intraday: Under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($): Look for 1709.00

Pivot (invalidation): 1734.00

Our preference
Short positions below 1734.00 with targets at 1715.00 & 1709.00 in extension.

Alternative scenario
Above 1734.00 look for further upside with 1742.00 & 1752.00 as targets.

Comment
The RSI has just struck against its neutrality area at 50% and is reversing down.

Silver spot ($): Under pressure

Pivot (invalidation): 17.1300

Our preference
Short positions below 17.1300 with targets at 16.5000 & 16.3000 in extension.

Alternative scenario
Above 17.1300 look for further upside with 17.2900 & 17.4000 as targets.

Comment
The RSI is bearish and calls for further decline.

Crude Oil (WTI): Expect 31.30

Pivot (invalidation): 33.75

Our preference
Short positions below 33.75 with targets at 32.40 & 31.30 in extension.

Alternative scenario
Above 33.75 look for further upside with 34.20 & 34.70 as targets.

Comment
The RSI has broken down its 30 level.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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