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Gold Advance; Silver Further Upside; WTI Oil Further Advance

Published 22/08/2018, 10:41
XAU/USD
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XAG/USD
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GC
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SI
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CL
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Gold spot ($) Further advance

Gold Chart

Pivot (invalidation): 1192.00

Our preference
Long positions above 1192.00 with targets at 1199.00 & 1202.00 in extension.

Alternative scenario
Below 1192.00 look for further downside with 1187.50 & 1184.00 as targets.

Comment
The RSI advocates for further advance.

Silver spot ($) Further upside

Silver Chart

Pivot (invalidation): 14.6500

Our preference
Long positions above 14.6500 with targets at 14.8400 & 14.9600 in extension.

Alternative scenario
Below 14.6500 look for further downside with 14.5700 & 14.4800 as targets.

Comment
The RSI advocates for further advance.

Crude Oil (WTI) Further advance

Crude Oil (WTI) Chart

Pivot (invalidation): 65.60

Our preference
Long positions above 65.60 with targets at 66.50 & 66.80 in extension.

Alternative scenario
Below 65.60 look for further downside with 64.85 & 64.40 as targets.

Comment
The RSI is mixed to bullish.

Disclaimer: While every effort has been made to ensure that the datat quoted and used for the research behind this document is reliable, there is no guarantee that it is correct, and Swissquote Bank and its subsidiaries can accept no liability whatsoever in respect of any errors or omissions, or regarding the accuracy, completeness or reliability of the information contained herein. This document does not constitute a recommendation o sell and/or buy any financial products and is not to be considered as a solicitation and/or an offer to enter into any transaction. This document is a piece of economic research and is not intended to constitute investment advice, nor to solicit dealing in securities or in any other kind of investment.

Although every investment involves some degree of risk, the risk of loss trading off-exchange forex contracts can be substantial. Therefore if you are considering trading in this market, you should be aware of the risks associated with this product so you can make informed decisions prior to investing. The material presented here in not to be construed as trading advice or strategy. Swissquote Bank makes a strong effort to use reliable, expansive information, but we make no representation that it is accurate or complete. In addition, we have no obligation to notify you when opinions or data in this material change. Any prices stated in this report are for information purposes only and do not represent valuations for individual securities or other instruments.

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