Crude oil : Strong bullish momentum
|GOLD (in USD)
Bullish.
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Gold continues to grow. Strong support is given at 1204 10/07/2017 high). Hourly resistance at 1258 (23/06/2017 high) has been broken. Expected to show continued strengthening.
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In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low)
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SILVER (in USD)
Riding bullish channel.
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Silver is pushing higher after the bounce from hourly support given at 15.18 (10/07/2017 low). Key resistance is given at a distance at 17.75 (06/06/2017 high). The commodity continues its short-term bullish increase.
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In the long-term, the death cross indicates that further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).
CRUDE OIL (in USD)
Strong bullish momentum.
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Crude Oil is trading higher Hourly support is given at 45.40 (24/07/2017 low). Strong resistance given at 50.28 (29/05/2017). Expected to show further bearish consolidation before another leg higher.
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In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness are very likely. Strong support lies at 35.24 (05/04/2016) while resistance can now be found at 55.24 (03/01/2017 high).
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