Gold, Silver, WTI Crude

Gold Spot shot higher to strong 100 day moving average resistance at 1796/98. Shorts need stops above 1801.

Silver Spot beat strongest resistance for this week at 2650/60 to hit the next target of 2685/95.

WTI Crude JUNE Future wiped out Thursday’s gains.

Daily analysis

Gold trades sideways so we look for scalping levels for an opportunity to take a 10 point profit before prices reverse. First support at 1781/79. longs need stops below 1775. A break lower to targets 1771/69 with support at 1760/58. A break below 1756 however risks a slide to 1752/50 & support at 1746/44.

Strong 100 day moving average resistance at 1796/98. Further strong resistance at 1803/06. A break higher is a buy signal targeting 1815 & 1822/23, perhaps as far as 1830/35.

Silver first resistance at 2685/95. A break above 2705 is the next buy signal initially targeting 2725 then 2770/80.

First support at 2625/21. Longs need stops below 2610.

WTI Crude held first support at 6315/05 yesterday but below 6290 can target 6270/50 with further support at 6210/00.

Holding first support at 6315/05 targets 6360/70 then 6420/30. WTI Crude retests strong 500 week moving average resistance at 6600/6620.

Chart

Gold

WTI

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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