Please try another search
Gold trades sideways as predicted.
Silver made a low for the day exactly at first support again at 2150/40.
Crude Oil WTI Futures MAY made a high for the day exactly at first resistance at 6900/6950.
Gold still has no sell signal, although be aware that we do have a negative divergence on the 4-hour chart. We could start to trade sideways, and we certainly did yesterday, as predicted. Two support levels again at 1909/05 and 1890/86. Both need a 5-point stop, as usual.
Targets for longs at 1909/05 are 1916 and 1923. Above 1926 can retest 1935/38. A break higher is always possible, and we can target 1947/49 before a fret of 1956/59 high.
Silver a high for the day exactly at resistance at 2210/20. Again shorts need stops above 2240. A break higher is a buy signal and can target very strong resistance at 2295/2305.
A low for the day exactly at first support at 2150/40. Longs need stops below 2130. A break lower targets 2085/80 and 2050/40.
WTI Crude (May) offered a 300-tick profit on shorts on the break of support as we hit 6650/20.
Looking at the weekly chart below, we could have hit the targets for the breakout already. We certainly saw a good bounce from here yesterday and made a high for the day exactly at first resistance at 6900/6950.
We should have strong support again at 6550/6450. Longs need stops below 6350. A break lower can target 6200/6150.
First resistance at 6900/6950. Shorts need stops above 7000. A break higher targets 7150.
Video Analysis:
In crisis, there can be opportunity, and good can come out of bad. While the drop in petroleum prices was predicated on the fear surrounding the global banking crisis, it did...
Oil’s Cautious Recovery Oil prices continue to recover after popping higher at the start of the week. There’s been a broad improvement in risk appetite at the start of...
Concerns over the banking sector have led to a move towards safe haven assets and gold has clearly benefited from this. While we see a short-term pullback in prices, we expect...
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.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
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.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.