Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Consolidation in place.
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Pivot (invalidation): 1620.00
Our preference
Short positions below 1620.00 with targets at 1585.00 & 1564.00 in extension.
Alternative scenario
Above 1620.00 look for further upside with 1643.00 & 1656.00 as targets.
Comment
As Long as 1620.00 is resistance, expect a return to 1585.00.
Silver spot ($)
Consolidation.
Pivot (invalidation): 14.5200
Our preference
Short positions below 14.5200 with targets at 13.9700 & 13.7600 in extension.
Alternative scenario
Above 14.5200 look for further upside with 14.7100 & 14.9000 as targets.
Comment
As Long as 14.5200 is resistance, look for choppy price action with a bearish bias.
Crude Oil (WTI)
Consolidation in place.
Pivot (invalidation): 24.90
Our preference
Short positions below 24.90 with targets at 23.70 & 23.10 in extension.
Alternative scenario
Above 24.90 look for further upside with 25.85 & 26.45 as targets.
Comment
As Long as 24.90 is resistance, look for choppy price action with a bearish bias.
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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