Gold Spot saw a high for the day at the 1760/62 level.
Silver Spot trades sideways with Gold.
WTI Crude November we wrote: hit the next target of 7415/25 and held. Further gains are expected targeting 7475/95 then 7540/50.
All targets hit as we reach 7628 this morning.
Today’s Analysis
Gold first resistance at 1760/62, shorts need stops above 1766. Strong resistance at 1773/76 could see a high for the day if tested. Shorts need stops above 1780. A break higher targets 1795/98.
Key Fibonacci support at 1742/40, again the only level of support this week. Longs need stops below 1736. A break lower is a sell signal targeting 1728/27, 1723/22 and 1719/17.
Silver holding minor resistance at 2265/70 targets best support for this week again at 2225/15. Longs need stops below 2190. A sustained break lower is a sell signal targeting 2165 to start with.
Strong resistance at 2300/10 but shorts need stops above 2320. A break higher targets 2345.
WTI Crude likely to continue higher to retest the 2021 high at 7690/99. This is the only resistance of any importance (being the 2018 high also). A sustained break above 7720 therefore should be a buy signal targeting 7745/55and 7785/95.
First support at 7500/7490 then strong support at 7430/10. Longs need stops below 7280.
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