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Gold: A Break Below 1920 Targets 1915/12

Published 04/25/2022, 05:19 AM
Updated 07/09/2023, 06:31 AM
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Gold had first support at 1927/24, but longs needed stops below 1920. A break lower targets 1915/12. Below 1910 look for 1900, perhaps as far as 1890. There was strong resistance at 1940/45. Shorts needed stops above 1950.

Silver's best support for this week was at 2390/80. Longs needed stops below 2365. A break lower was a medium term sell signal. Minor resistance was  at 24.50/60. Strong resistance at 2485/95. Shorts needed stops above 2505.

WTI crude JUNE had first support at 102.00/101.50. Longs needed stops below 101.00 (a low for the day here again on Friday). A break lower however targeted 9900/9850 and 9750/9700. We could fall as far as very strong support at 94.50/9400. Longs needed stops below 9350. Holding support at 102.00/101.50 allowed a recovery to minor resistance at 104.50/105.00. Above 105.50, however, look for 106, perhaps as far as 107.30/70. Shorts needed stops above 108.50.

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