Gold spot ($): Look for 1709.00

Gold

 

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

XAGUSD

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

Crude Oil

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.

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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