GOLD Spot

The near-term price action moves sideways and is entrenched within 1765 and 1775 range, as bounce off 1756 low lacks momentum for stronger recovery. Range floor is reinforced by 4h Ichimoku cloud base and Tenkan-sen line, with any further progress, requiring clearance of 1780, 09 Oct high / Fib 61.8% of 1795/1756 downmove. Conversely, violation of 1765 higher base, would risk retest of strong support and larger range floor at 1755.

Res: 1771, 1775, 1780, 1785
Sup: 1765, 1757, 1755, 1751

gold 




SILVER Spot

Near-term tone remains negative, as recovery from 33.53, range floor, stays capped at 34.30, 50% of 35.08/33.53 downleg. With hourly studies losing traction and entering negative territory, near-term focus turns towards key support and two-week range floor at 33.53, also Fib 23.6% of 27.50/35.36 rally, with intermediary supports at 33.70 zone. Loss of 33.53 handle would be a spark for more significant correction towards psychological 33.00 support and 32.36, Fib 38.2%. On the other side, lift above 34.30/50 barriers would provide relief.

Res: 34.11, 34.20, 34.33, 34.50
Sup: 33.75, 33.69, 33.53, 33.32

silver



CRUDE OIL (Nov)

Oil price continues to move in a sideways, consolidative mode, following violation of 93.30 barrier and false break that peaked at 93.64. While 91.00, near-term consolidation floor holds, scope exists for fresh attempt towards 93.30/64 and more significant 93.80/94.20 barriers, break of which to confirm higher low at 87.69 and open upper barriers for test. However, lack of strength on near-term studies sees increased risk towards 91.00, also 50% of 87.69/93.64 rally, loss of which shift near-term focus lower.

Res: 92.00, 92.58, 92.91, 93.30
Sup: 91.56, 91.02, 90.90, 90.27

crude