Crude Oil: Ready to push higher

GOLD (in USD)

Surging.

• Gold is consolidating. Hourly support is given at 1251 (08/08/2017 low). Stronger support lies at 1204 (10/07/2017 high). Hourly resistance at 1274 (01/08/2017 high) has been broken. The road is wide open towards strong resistance at 1296 (06/06/2017 high).

• 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)

Bullish pressures.

• Silver's bullish pressures are on. Hourly resistance lies at 16.94 (02/08/2017 high) has been broken. The commodity has set up a new support 16.13 (07/08/2017 high). Expected to show continued current bullish momentum.

• 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)

Ready to push higher.

• Crude Oil is trading higher. Hourly support is given at 47.86 (26/07/2017 low). Strong resistance can be found at 50.41 (31/07/2017). Expected to monitor resistance at 50.41 (31/07/2017 high).

• 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).