Gold spot over ran strong support at 1770/68 to hit 1762 before we shot higher on the FOMC.
Silver spot tested strong support at 2610/00 and held above 2580, keeping us long for the recovery to strongest resistance for this week at 2650/60.
WTI Crude JUNE Future beat strong resistance again at 6360/80 to target 6480/85 with strong resistance at 6535/65.
Today’s Analysis
Gold eventually managed to hold above 1770 and beat resistance at 1778/81 to top exactly at the next target of 1788/89. Strongest resistance for this week expected at 1795/99. A high for the week could be seen here. However a break above 1803 signals further gains, initially to 1815.
Support at 1779/77. Longs need stops below 1775. Next target and support at 1768/64.
Longs need stops below 1760.
Silver holding strong support at 2610/00 to retest the strongest resistance for this week at 2650/60 so these are the important levels again for today. A break above 2670 targets 2685/95. A break above 2705 is the next buy signal.
Strong support at 2610/00 but longs need stops below 2580. Next downside target and support at 65/60 but below 2555 look for 2540/2735.
WTI Crude holding above 6360/80 targets 6480/85 with resistance at 6535/65.
Further gains test the 500 week moving average resistance at 6600/10.
First support at 6270/50. Longs need stops below 6230.
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