Gold Spot Levels: The upside prevails

Swissquote Bank Research Team Swissquote Bank Ltd

Gold spot ($)

The upside prevails.

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Pivot (invalidation): 1205.00

Our preference
Long positions above 1205.00 with targets at 1210.00 & 1214.00 in extension.

Alternative scenario
Below 1205.00 look for further downside with 1203.00 & 1199.50 as targets.

Comment
The RSI shows upside momentum.

Silver spot ($)

Further advance.

Pivot (invalidation): 14.2500

Our preference
Long positions above 14.2500 with targets at 14.4400 & 14.5300 in extension.

Alternative scenario
Below 14.2500 look for further downside with 14.1900 & 14.1300 as targets.

Comment
The RSI is bullish and calls for further upside.

Crude Oil (WTI)

Under pressure.

Pivot (invalidation): 70.85

Our preference
Short positions below 70.85 with targets at 69.95 & 69.35 in extension.

Alternative scenario
Above 70.85 look for further upside with 71.35 & 71.75 as targets.

Comment
The RSI advocates for further decline. The prices broke below a bullish channel.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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