Gold spot Intraday: The bias remains bullish
|Gold spot ($)
The bias remains bullish.
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Pivot (invalidation): 1705.00
Our preference
Long positions above 1705.00 with targets at 1723.00 & 1730.00 in extension.
Alternative scenario
Below 1705.00 look for further downside with 1697.00 & 1690.00 as targets.
Comment
Technically the RSI is above its neutrality area at 50.
Silver spot ($)
Choppy.
Pivot (invalidation): 15.4000
Our preference
Long positions above 15.4000 with targets at 15.6500 & 15.7300 in extension.
Alternative scenario
Below 15.4000 look for further downside with 15.3100 & 15.2200 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Crude Oil (WTI)
Intraday support around 24.80.
Pivot (invalidation): 24.80
Our preference
Long positions above 24.80 with targets at 25.90 & 26.45 in extension.
Alternative scenario
Below 24.80 look for further downside with 24.20 & 23.70 as targets.
Comment
A support base at 24.80 has formed and has allowed for a temporary stabilisation.
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