Swissquote Bank Research Team
Swissquote Bank Ltd
Gold spot ($)
Key resistance at 1513.00
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Pivot (invalidation): 1513.00
Our preference
Short positions below 1513.00 with targets at 1502.00 & 1493.00 in extension.
Alternative scenario
Above 1513.00 look for further upside with 1519.00 & 1528.00 as targets.
Comment
As Long as the resistance at 1513.00 is not surpassed, the risk of the break below 1502.00 remains high.
Silver spot ($)
Under pressure
Pivot (invalidation): 18.3100
Our preference
Short positions below 18.3100 with targets at 17.7100 & 17.5200 in extension.
Alternative scenario
Above 18.3100 look for further upside with 18.5600 & 18.7800 as targets.
Comment
The RSI is bearish and calls for further decline.
Crude Oil (WTI)
Aim @ 58.10
Pivot (invalidation): 56.40
Our preference
Long positions above 56.40 with targets at 57.75 & 58.10 in extension.
Alternative scenario
Below 56.40 look for further downside with 56.00 & 55.60 as targets.
Comment
The RSI is bullish and calls for further upside.
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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