Gold and Silver resume the bull trend

XAU/USD

Gold beat 4405/4410 with stops triggered above 4420.

The break higher hit my targets of 4431/34 & 4441/4445 so the long positions worked.

Gold ran as far as 4459 and it's clear we remain in a bull trend.

I'm hoping this trend is resuming now after the correction on the 29th of December.

A break above 4460 can target 4485/4490 today.

If we continue higher look for 4505/10.

We then meet the all time high at 4545/4550.

After yesterday's strong Bullish momentum hopefully any correction to the downside will be limited.

We should find good support at 4420/4410. Longs need stops below 4405.

XAG/USD

Silver made a low for the December correction exactly at support at 7050/7000.

Our long positions have worked perfectly on the jump to minor resistance at 7500/7550 for an easy 500 ticks profit.

Beating minor resistance was not a surprise and we have continued onto the next target of 7660/7700 and we are almost testing resistance at 7800/7850.

Shorts are risky in the bull trend and even if we pause here, the market may not go down significantly enough to make money out of a short position.

However if you try a short here we need stops above 7900 and I would suggest taking a quick profit if you see one.

Eventually a break higher would be expected and we can then target 8050/8080.

on a break above 8100 there's not much to stop a retest of the all time high at 8330/8362.

There should support around 7480/7450 but if we unexpectedly continue lower look for a buying opportunity 7340/7300 & longs need stops below 7280.

WTI Crude January futures

Last session low & high: 5660 - 5851.

WTI Crude made a low for the day on Monday exactly at support at 5700/5665 (just 30 ticks above the opening low & longs worked perfectly on the bounce to resistance again at 5850/5890.

Looks like we managed to catch the low for the day and the high for the day perfectly. I don't think we can do better than that??

A break above 5930 today can target 6010/6030.

In these volatile conditions, if we reverse again, look for 5780/5750 as the 1st downside target then support again at 5700/5665.

Just be aware that a break below 5620 in a longer-term bear trend could retest the super important 2025 low at 5530/5498.

Obviously a break below here would be an important sell signal for the start of 2026.