Gold has serious triple top risk with last week's high for the week at the all time high. I am waiting for a break below 2 support levels for a sell signal.
Gold has key support at 2010/2005. There is support again at 1995/1990. A break below here should be an important sell signal initially targeting 1970/65.
Holding above 2010 can retest yesterday's high at 2027/30. Further gains target 2043/46. Above 2050 can retest the triple top at 2067/72.
Silver has double top risk in silver.
Again I am waiting for a break below 2 support levels for a sell signal.
First support at 2525/20. Longs need stops below 2515. A break lower is a sell signal targeting support at 2470/60. Longs need stops below 2440. A break below here is a more important sell signal for this week & can initially target 2375/70.
Obviously, we have resistance at the double top 22605/15. The bulls need a break above 2620 for a buy signal this week.
Crude Oil WTI Futures (June) double bottom buy signal after Thursday's bullish hammer candle at the longer-term support level at 6525/6360 on the weekly chart has triggered significant gains.
I hope you managed to get into a long position in time.
The bullish morning star candle pattern was another buy signal and yesterday, we shot higher to my next target of 7340/70 with a high for the day exactly here.
So far, so good!! Where next? A break above 7400 should be a buy signal for today, targeting strong resistance at 7560/7600. A high for the day is likely. Shorts need stops above 7660.
Failure to beat my next target of 7340/70 risks a slide to 7230/10. If we continue lower, look for support at 7140/20. Longs need stops below 7090.
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