Silver: Lack of follow-through

GOLD (in USD)

Short-squeeze.

• Gold is still going lower after strong collapse even though traders are taking some profit. . Hourly support is given at 1236 (12/12/2017 low) . Resistance is located at 1259 (14/12/2017).

• 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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SILVER (in USD)

Lack of follow-through.

• Silver has been bouncing on hourly support at 15.61 (14/07/2017 low). Hourly resistance is given at 17.46 (13/10/2017 high). Expected to show renewed bearish pressures.

• In the long-term, the trend is rater negative. 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).

CRUDE OIL (in USD)

Ready for another leg higher.

• Crude oil is has failed to break resistance given at 59.05 (24/12/2017 high). Support is given at 55.82 (07/12/2017 low). Expected to bounce back.

• In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness are very likely. For the time being the pair lies in an upside momentum. Strong support lies at 35.24 (05/04/2016) while resistance can now be found at 55.24 (03/01/2017 high).