Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Gold, Silver, WTI Crude Forecast

By Jason SenCommoditiesJul 19, 2021 01:23AM ET
www.investing.com/analysis/gold-silver-wti-crude-forecast-200592150
Gold, Silver, WTI Crude Forecast
By Jason Sen   |  Jul 19, 2021 01:23AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Gold Spot broke first support at 1825/23 to bottom exactly at strong support at 1813/10, but there was no bounce from here. The longer term trend is sideways and we remain unable to sustain a move in 1 direction for more than a couple of days.

Silver Spot could not break above first resistance at 2625/30 and collapsed to important support at 2580/2570.

WTI Crude August developed a sideways consolidation pattern as it initially broke support at 7100/00 before a bounce to minor resistance 7210/20. We topped exactly here.

Analysis

Gold must hold 1810 for bulls to retain control. A break below 1807 today, however, is a sell signal targeting 1804/02 and support at 1794/92. Longs need stops below 1789.

Longs at support at 1812/10 targets 1817/18 then 1822 with strong resistance at 1825/27. Shorts need stops above 1830.

Silver tests important support at 2580/2570 but looks likely to break lower for a sell signal. A break below the June low at 2555/50 is another sell signal this week initially targeting 2525/20, perhaps as far as 2505/2500.

The outlook is negative so gains are likely to be limited with first resistance at 2605/15.

Unlikely, but a break higher targets 2625/30.

WTI Crude September strong support at 7040/30. A break below 7010 however targets 6900/6850. Further losses meets the best support for this week at 6700/6650. Longs need stops below 6600.

Longs at strong support at 7040/30 target 7150/60, perhaps as far as first resistance at 7260/80 for profit taking. Shorts need stops above 7320.

XAU Chart
XAU Chart

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

Gold, Silver, WTI Crude Forecast
 

Related Articles

Phil Flynn
Energy Report: Bad Actors By Phil Flynn - Sep 17, 2021

Oil prices, gasoline futures and heating oil futures are all taking a breather one day after Joe Biden blamed the increasing cost of gasoline on bad actors and pandemic...

Gold, Silver, WTI Crude Forecast

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Imran Wattoo
Imran Wattoo Jul 19, 2021 7:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
v nice
sayed ali mosavi
sayed ali mosavi Jul 19, 2021 2:30AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
good
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email