Price Of Gold (XAUUSD), Silver Price (XAGUSD) And Crude Oil Price (WTI) Reviewed

Hang Seng, EuroStoxx 50, XAUUSD And Other Assets Analysed In Saxo Bank's "Quick Take"

Gold Spot levels were becoming blurred now so I had to wait for clearer signals, which hopefully I have now. We tumbled back to minor support at 1925/20 & held 3 points below here

Silver outlook appears to be more negative & with important support 100 ticks away at 2400/2390 this week.

WTI Crude April beat the next resistance at 101.50/102.00 which is now working as support. We held just below strong resistance at 106.70/107.30 so this remains the main challenge for bulls.

Today's Analysis.

Gold longer term support at 1900/1890 is the most important of the week. Holding minor support at 1925/20 today allows a recovery to 1935/37 before first resistance at 1955/60. Shorts need stops above 1965. A break higher targets 1980/83.

A break below 1915 signals a test of important support at 1900/1890. Longs need stops below 1880. A break lower sees 1890/1900 act as strong resistance for a sell signal targeting 1865 & 1840 before a buying opportunity at 1835/25. Longs need stops below 1815.

Silver closed below Thursday's low on Friday & holding below 2500/10 keeps the pressure on for a test of first support at 2455/45. Longs need stops below 2430. A break lower targets very strong support at 2400/2390. Longs need stops below 2370.

Minor resistance at 2525/35 then strong resistance at 2570/80, shorts need stops above 2590.

WTI Crude April very strong resistance at 106.70/107.30 - shorts need stops above 108.00. A break higher is a buy signal targeting 109.70/90, probably as far as 112.00.

Shorts at 106.70/107.30 target first support at 102.50/102.00 for profit taking. A break below 101.50 risks a slide to 9900/9850.

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Hang Seng, EuroStoxx 50, XAUUSD And Other Assets Analysed In Saxo Bank's "Quick Take"

Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders.