Gold beat 1950 for another buy signal targeting 1962/65 on Wednesday. The break above 1965 yesterday targeted 1970/75 and 1980/82, with a high for the day exactly here.
I think it is fair to say that buying as prices broke higher each day through 1932, 1950, and 1965 this week has been the right strategy and the targets have been perfectly accurate.
Further gains are expected as far as 1986/88 and 2000 despite severely overbought conditions. No sell signal yet so 2020 is certainly possible.
First support at 1956/53. Longs need stops below 1950.
Strong support at 1942/38. Longs need stops below 1934.
Silver XAG/USD longs at first support at 2275/65 worked perfectly targeting 2295 and 2320/30.
First support again at 2275/65. Longs need stops below 2260.
A break lower meets strong support at 2235/25. Longs need stops below 2215.
WTI Crude December futures broke good support at 8690/60 but the buying opportunity at even better support at 8590/8560 worked perfectly with a low for the day exactly here at 8544.
The break above Wednesday's high at 8857 triggers the next leg higher in the bull trend targeting 8970/90, with a high for the day only 16 ticks below yesterday. If we continue higher as I expect today, look for 9060/9090.
First support at 8850/20 then strong support at 8780/40 and longs need stops below 8720.