Gold, Silver, WTI Crude

Gold Spot bottomed exactly at better support at 1781/78. Longs need stops below1775.

Silver Spot dipped to strong support at 2620/10 but overran to 2595 before a bounce.

WTI Crude JUNE Future bottomed exactly at support at 6075/65 for a bounce to the first target of 6165/85.

Daily analysis

Gold holding strong support at 1781/78 targets 1788/90 with minor resistance at1794/96 but eventually we should test strong 100-day moving average resistance at1803/05. A high for the week could be seen here so it is worth profit taking on longs. However, a break above 1806 signals further gains to 1815.

Good support at 1781/78 again today. Longs need stops below 1775. Next downside target & buying opportunity at 1765/61. Longs need stops below 1757.

Silver holding strong support at 2610/00 targets 2650/60, perhaps as far as 2685/95 into next week. A break above 2705 is the next buy signal.

Strong support at 2610/00 but below 2590 can target strong support at 2560/50. Longs need stops below 2740.

WTI Crude bounced from support at 6075/65 hits the first target of 6170/90. Above here can target strong resistance at 6265/75. Strong resistance again at 6380/6400.A break above 6435 targets 6480/85 with strong resistance at 6535/65.

First support at 6075/65. A break lower targets 6020/00. Longs need stops below5980.

Chart

GoldSilverWTI

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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