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Crude Oil (WTI) Intraday: key resistance at 56.65

Gold spot ($)

Consolidation in place

GOLD


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Pivot (invalidation): 1501.00

Our preference
Short positions below 1501.00 with targets at 1485.00 & 1479.50 in extension.

Alternative scenario
Above 1501.00 look for further upside with 1505.00 & 1510.00 as targets.

Comment
As Long as 1501.00 is resistance, look for choppy price action with a bearish bias.

Silver spot ($)

Range

SILVER

Pivot (invalidation): 18.2500

Our preference
Short positions below 18.2500 with targets at 17.8700 & 17.7500 in extension.

Alternative scenario
Above 18.2500 look for further upside with 18.4500 & 18.5500 as targets.

Comment
As Long as 18.2500 is resistance, expect a return to 17.8700.

Crude Oil (WTI)

Key resistance at 56.65

OIL

Pivot (invalidation): 56.65

Our preference
Short positions below 56.65 with targets at 55.60 & 55.00 in extension.

Alternative scenario
Above 56.65 look for further upside with 57.25 & 57.95 as targets.

Comment
As Long as the resistance at 56.65 is not surpassed, the risk of the break below 55.60 remains high.

Author

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