GOLD Spot
Gold trades in a corrective mode at the beginning of the week, following last Friday’s strong rally and surge through initial barriers at 1738 and 1746/48 that posted fresh high at 1752. Corrective easing on overbought near-term conditions, sees good support at 1738 zone, previous high / 38.2% retracement of 1719/1752 rally, with ascending 55 day EMA and bull trendline off1705, reinforcing support. Overall bulls remain intact for now and current easing could be described as corrective pause of broader recovery from 1672 that focuses 1756, Fib 76.4% expansion of the upleg from 1705 and 1771, 100% expansion.
Res: 1748, 1752, 1756, 1771
Sup: 1744, 1738, 1735, 1731
SILVER Spot
Silver consolidates the latest gains that resulted in break and weekly close above psychological 34.00 barrier. Overbought conditions of near-term studies, see corrective easing preceding fresh rally, as overall bullish structure remains intact. Break above the midline on daily MACD and lift above daily Ichimoku cloud top, keep the upside in near-term focus, with immediate barriers at 34.25, Fin 76.4% of 35.36/30.65 and 34.33, 11 Oct high. On the downside, initial support lies at 33.85, day’s low / Fib 23.6% of 32.82/34.15 / 20 day EMA, with deeper dips seeing ideal reversal point at 33.50 zone, 22/23 Nov consolidation range top / 50% retracement.
Res: 34.00, 34.15, 34.25, 34.33
Sup: 33.85, 33.64, 33.50, 33.33
CRUDE OIL (Jan 13)
Crude oil has regained some ground on last Friday’s rally that peaked at 88.50, with series of higher lows off 84.05, 07 Nov low, seeing potential for further recovery, as higher base has been established above 86.00. However, repeated failure on approach to psychological 90.00 barrier, also near Fib 61.8% of 93.47/84.05, require caution, as hourly studies are losing momentum and 4h ones holding rather neutral tone. However, holding above 86.73, last Friday’s low and 86.30, tentative bull trendline off 84.05, would protect 84.05, key near-term support and keep hopes of fresh attack at 889.20 and 89.77 peaks alive, with break here to open 90.00 and 90.42, Fib 38.2% of larger 100.72/84.05 descend.
Res: 88.14, 88.50, 89.00, 89.16
Sup: 87.64, 87.00, 86.73, 86.36 
