Silver spot levels: The downside prevails

Gold spot ($)

The downside prevails.

Gold

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Pivot (invalidation): 1200.00

Our preference
Short positions below 1200.00 with targets at 1192.50 & 1190.00 in extension.

Alternative scenario
Above 1200.00 look for further upside with 1203.00 & 1206.00 as targets.

Comment
The RSI is capped by a bearish trend line.

 

Silver spot ($)

The downside prevails.

Silver

Pivot (invalidation): 14.2500

Our preference
Short positions below 14.2500 with targets at 14.1300 & 14.0700 in extension.

Alternative scenario
Above 14.2500 look for further upside with 14.3500 & 14.4300 as targets.

Comment
The RSI is capped by a declining trend line.

 

Crude Oil (WTI)

Further advance.

Crude Oil

Pivot (invalidation): 70.70

Our preference
Long positions above 70.70 with targets at 72.25 & 72.80 in extension.

Alternative scenario
Below 70.70 look for further downside with 70.00 & 69.20 as targets.

Comment
The RSI is mixed to bullish.

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.