Gold Spot beat resistance at 1835 very briefly before reversing half way to strong 1.5 month trend line resistance at 1845/50.

Outlook is more negative now & we could head slowly towards the lower end of the recent range around 1805/00.

Silver broke higher to the next target of 2365/70 with a high for the day. Outlook is more negative for silver now in the 1 year bear trend.

WTI Crude March longs at our buying opportunity at 8890/60 worked perfectly again for the third day with a low for the day & eventually reaching my 9150 target.

Update daily at 06:30 GMT

Today's Analysis.

Gold hit first support at 1824/22 for profit taking on any shorts this morning. Holding below 1826/28 targets 1819/16. A low for the day morning is possible here but a break below 1814 is likely to target 1811/10 then 1805/01.

A break above 1830 however can target 1835, perhaps as far as 1840. Remember strong 1.5 month trend line resistance at 1845/50. Shorts need stops above 1855.

Silver has support at 2310/00 so a break below 2300 is likely to target 22650/60. We should pause here but a bounce may not happen in the bear trend. If we continue lower look for 2240/30.

Holding support at 2310/00 targets 2330/33. Unlikely but a break above 2340 can retest 2365/70.

WTI Crude March longs at our buying opportunity at 8890/60 (if they work again) target 9030/50 for a little profit taking but further gains are possible eventually to 9150 today in the longer term bull trend. Remember key 12 month trend line resistance at 9310/9330. If you think WTI Crude has run too far then a retest of this level could be your sell opportunity but you will need wide stops, I would suggest above 9390. A break higher is a buy signal as long as the move is sustained of course.

Another buying opportunity at 8890/60. Stop below 8830. A break lower targets 8750/30, perhaps as far as 8610/8590.

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