Gold Spot shorts at strong resistance at 1868/72 worked again as we held below 1877. Yesterday's bearish engulfing candle is a sell signal. Silver shorts at resistance at the 200 day moving average at 2535/40 also worked perfectly offering up to 55 pips profit so far. Yesterday's bearish engulfing candle is a sell signal.
WTI Crude December longs at first support at 7990/60 work on the bounce to first resistance at 8150/80 for some profit taking. A high for the day exactly here which worked for anyone trying shorts.
Update daily at 06:30 GMT
Gold holding strong resistance at 1868/72 re-targets 1857/55 before a retest of first support at 1842/39, which could be seen this morning. Try longs with stops below 1836. A break lower is a sell signal targeting 1832/30 & 1824/22 then a buying opportunity at 1819/16. Try longs with stops below 1812.
Strong resistance at 1868/72. Shorts need stops above 1877. A break above here would be a buy signal for this week targeting 1885, 1895, 1900/03 & probably as far as 1914/16.
Silver shorts at resistance at the 200 day moving average at 2535 hit minor support again at 2485/80 for profit taking. Be ready to sell a break below 2475 today targeting strong support at 2450/40, which could see a low for the day. Longs need stops below 2430.
Sell again at resistance at the 200 day moving average at 2535/40. A break above 2540 however is a buy signal this week targeting 2570/80 then 2600, perhaps as far as 2640/50.
WTI Crude December shorts at first resistance at 8150/80 work on the retest of first support at 7990/60. Longs need stops below 7930 for a retest of last week's low at 7835/25. A break lower targets 7760/50, perhaps as far as 7650/30.
Shorts at first resistance at 8150/80 need stops above 8210 today. A break higher should target 8280/90, perhaps as far as 8340/50. Above here this week look for strong resistance at 8480/8500.
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