Silver tests 23.70 resistance
The white metal surged higher Friday after a long needed breath of recovery, which was certainly in short supply earlier this week. Indeed, during European trading silver spot prices were seen peaking at the 23.83 level (session high) before pulling back in recent minutes to USD $23.63 per oz. A testing of the 23.70 resistance is seen as a positive signal intraday, and prolonged stability above this level will be seen as breaking out of a bearish consolidation.
Crude breaks higher
WTI crude oil extended earlier gains and was seen approaching the key resistance around the 90.00-90.50 area earlier this week– however until this area is breached, the overall bearish wave remains intact. In these moments, the price of crude is trading at USD $87.10/bbl.