Gold, Silver, WTI Crude

Gold Spot bottomed exactly at best support at 1764/61. Longs worked perfectly on the 20 point bounce to 1784.

Silver Spot still holding the next target of 2610/20 as we trade sideways all through April.

WTI Crude JUNE Future collapsed from the next target & resistance at 6380/6400 to break 1st support at 6300/6280. However, we bottomed exactly at the next target & support at 6185/65.

Daily analysis

Gold minor support at 1772/70, then strong support again at 1764/61. Longs need stops below 1759. A break lower targets 1756/55 with support at 1748/46.

Gold recovers to the first target of 1775/80 as we look for a retest of this week’s high of 1788/90 now. A break higher today targets minor resistance at 1792/96 before strong 100 days moving average resistance at 1803/05.

Silver hit the next target of 2610/20 & topped exactly here as expected over the past 2 days. However a break above 2630 this week targets 2650/60, perhaps as far as 2685/95.

Strong support at 2575/65 saw a low for the day exactly as predicted. Longs need stops below 2755 today. Strong support at 2540/30 but longs need stops below 2510.

WTI Crude first support at 6185/65. A break lower to targets supports at 6075/65. If we continue lower look for 6020/00.

Minor resistance at 6265/75. Strong resistance again at 6380/6400. A break above 6435 targets 6480/85 with strong resistance at 6535/65.

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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