Gold Spot broke strong support at 1814/11 with stops below 1808 activated. Gold fell further to 1792.
Silver Spot shorts at strong resistance at 2487/94 hit strong support at 2535/25 for profit taking.
WTI Crude OCTOBER becoming more random and erratic – up one day, down the next day in a 2 week sideways trend.
Today’s Analysis
Gold crashed from important resistance at 1831/33. We remain therefore in a sideways trend. The only support today is at 1794/91. A break below 1789 therefore should be a sell signal targeting 1787 and 1778/76 for profit taking on any shorts.
Any longs at 1794/91 target 1802/03, perhaps as far as resistance at 1812/15 for profit taking. Shorts here need stops above 1820.
Silver topped exactly at strong resistance at 2487/94 to hit strong support at 2535/25. Longs need stops below 2415. Minor support at 2390/2380 but a break below here should be a sell signal.
Holding strong support at 2535/25 allows a recovery to 2450/55 before a retest of strong resistance at 2487/94.
WTI Crude holding first resistance at 6880/6900 risks a slide to 6780/50. Further losses retest last week’s low at 6720/10. A break below here can target 6630/10.
Above 6900 can target 6960/70. Further gains can retest 2 month trend line resistance at 6980/7000. Shorts need stops above 7035. A break higher targets 7085/90 and 7120/40.
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