Swissquote Bank Research Team
Swissquote Bank Ltd
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.
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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