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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Gold

 

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).

Silver

 

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).

Oil

This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.