Gold, Silver, WTI crude
|Gold Spot shot higher to 1789. Minor support at 1771/69 then better support at 1762/59.
Silver Spot still holding the next target of 2610/20.
WTI Crude JUNE Future tests the next target & resistance at 6380/6400. Update daily at 06:30 GMT
Today’s Analysis.
Gold best support today at 1764/61. Longs need stops below 1759. A break lower targets 1752/50 with support at 1748/46.
Holding best support today at 1764/61 on the downside targets 1775/80. Further gains retest yesterday’s high at 1788/90. A break higher today targets minor resistance at 1792/96 before strong 100 day moving average resistance at 1803/05.
Silver hit the next target of 2610/20 & topped exactly here as expected over the past 2 days. However a break above 2630 this week targets 2650/60, perhaps as far as 2685/95.
Strong support at 2575/65 saw a low for the day exactly as predicted. Longs need stops below 2755 today. Strong support at 2540/30 but longs need stops below 2510.
WTI Crude retests resistance at 6380/6400 this morning. If we continue higher today look for 6480/85 with strong resistance at 6535/65.
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