Silver: Collapsing
|GOLD (in USD)
Ready for further downside.
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Gold is pushing lower. The technical structure confirms the end of the consolidation phase. Support lies at a distance at 1251 (08/08/2017 high). Resistance is located at 1288 (20/10/2017).
- 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)
Collapsing.
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Silver is heading lower. Hourly support can be found at 16.13 (07/08/2017 low). Hourly resistance is given at 17.46 (13/10/2017 high). Expected to keep pushing lower.
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In the long-term, the trend is rater negative. 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)
Losing steam.
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Crude oil continues its consolidation phase and should not challenge the 60-dollar level. Expected to show continued sideways move. Support is given at a distance at 54.81 (14/11/2017 low)
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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. For the time being the pair lies in an upside momentum. 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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