Gold, Silver And WTI Crude Daily Forecast
Jason Sen | May 28, 2021 03:49AM ET
Gold Spot bottomed exactly at first support at 1895/1890.
Silver Spot up one day, down the next day in the sideways trend for 2 weeks. Same levels apply for today.
WTI Crude JULY Future we wrote: beat 6450/6480 for a buy signal targeting the 500 week moving average at 6585/6605. Bulls need to beat this week’s high at 6650 for a retest of the May high at 6690/6700.
All these targets have been hit.
h2 Today’s Analysis/h2Gold holding first support at 1895/1890 is a buy signal targeting 1920/25 and 1937/40.
Try longs at 1895/1890 with stop below 1885. The downside should be limited in the bull trend but further losses target 1880/78, perhaps as far as support at 1859/56.
Silver holding first support at 2760/50 targets minor resistance at 2800/05 and 2820/25. Further gains target resistance at 2870/75. Above here can target 2905/10 and 2970/80.
First support at 2760/50. Below 2740 however targets 2725/20, perhaps as far as support at 2695/85.
WTI Crude beat 6450/6480 for a buy signal and now making a break above the May high at 6690/6700 to target the 2021 high at 6790/99. Next target is 6840/50.
Strong support at 6640/20. Longs need stops below 6580.
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