Today's daily charts for Gold, Silver and WTI

Matt Simpson, CFTe, MSTA CityIndex

Gold Daily

Gold prices are coiling above October’s high.
The trend remains firmly bullish within an ascending channel.
A break above 1250.63 confirms a bullish breakout, a counter-trend break of 1241.11 warns of a deeper correction.

Silver Daily

Silver remains in a sideways range, but a clear break above 14.91- 15.00 confirms a double bottom.
Range trading strategies are preferred between the 13.94 – 15.00 area.
Look for reversal patterns near support and resistance, as they have been a prominent feature of this range.

WTI Daily

Crude oil is coiling to suggest a volatile move is pending.
With the trend clearly bearish, a break of 49.13 brings 45.62 and 42.08 lows into focus.
However, the lack of near term mean reversion would mean a counter-trend break above of 54.45 would see likely see a move to the 58.11.

Author

Matt Simpson, CFTe, MSTA

CityIndex

Matt Simpson is a certified technical analyst who combines charts and fundamentals to generate trading themes.

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