Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Key resistance at 1470.50.
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Pivot (invalidation): 1470.50
Our preference
Short positions below 1470.50 with targets at 1464.00 & 1461.50 in extension.
Alternative scenario
Above 1470.50 look for further upside with 1475.50 & 1479.00 as targets.
Comment
As Long as 1470.50 is resistance, expect a return to 1464.00.
Silver spot ($)
Consolidation.
Pivot (invalidation): 16.9700
Our preference
Short positions below 16.9700 with targets at 16.8300 & 16.7500 in extension.
Alternative scenario
Above 16.9700 look for further upside with 17.1100 & 17.2200 as targets.
Comment
As Long as 16.9700 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI)
Further upside.
Pivot (invalidation): 59.15
Our preference
Long positions above 59.15 with targets at 59.85 & 60.15 in extension.
Alternative scenario
Below 59.15 look for further downside with 58.75 & 58.50 as targets.
Comment
The RSI is bullish and calls for further advance.
This report has been prepared by Swissquote Bank Ltd 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 Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd 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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