Gold, Silver, WTI Crude
Gold Spot bottomed exactly at better support at 1781/78. Longs need stops below1775.
Silver Spot dipped to strong support at 2620/10 but overran to 2595 before a bounce.
WTI Crude JUNE Future bottomed exactly at support at 6075/65 for a bounce to the first target of 6165/85.
Daily analysis
Gold holding strong support at 1781/78 targets 1788/90 with minor resistance at1794/96 but eventually we should test strong 100-day moving average resistance at1803/05. A high for the week could be seen here so it is worth profit taking on longs. However, a break above 1806 signals further gains to 1815.
Good support at 1781/78 again today. Longs need stops below 1775. Next downside target & buying opportunity at 1765/61. Longs need stops below 1757.
Silver holding strong support at 2610/00 targets 2650/60, perhaps as far as 2685/95 into next week. A break above 2705 is the next buy signal.
Strong support at 2610/00 but below 2590 can target strong support at 2560/50. Longs need stops below 2740.
WTI Crude bounced from support at 6075/65 hits the first target of 6170/90. Above here can target strong resistance at 6265/75. Strong resistance again at 6380/6400.A break above 6435 targets 6480/85 with strong resistance at 6535/65.
First support at 6075/65. A break lower targets 6020/00. Longs need stops below5980.
Chart
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
EUR/USD holds steady above 1.0550 on modest USD weakness
EUR/USD struggles to gather recovery momentum but clings to modest daily gains above 1.0550 in the second half of the day on Monday. Although the US Dollar corrects lower following the previous week's rally, the cautious market mood makes it hard for the pair to push higher.
GBP/USD stabilizes above 1.2600 following previous week's drop
GBP/USD defends minor bids above 1.2600 in the American session on Monday, while the negative shift seen in risk sentiment caps the pair's upside. The Bank of England Monetary Policy Hearings and UK inflation data this week could influence Pound Sterling's valuation.
Gold benefits from escalating geopolitical tensions, rises above $2,600
After suffering large losses in the previous week, Gold gathers recovery momentum and trades in positive territory above $2,600 on Monday. In the absence of high-tier data releases, escalating geopolitical tensions help XAU/USD hold its ground.
Bonk holds near record-high as traders cheer hefty token burn
Bonk (BONK) price extends its gains on Monday after surging more than 100% last week and reaching a new all-time high on Sunday. This rally was fueled by the announcement on Friday that BONK would burn 1 trillion tokens by Christmas.
The week ahead: Powell stumps the US stock rally as Bitcoin surges, as we wait Nvidia earnings, UK CPI
The mood music is shifting for the Trump trade. Stocks fell sharply at the end of last week, led by big tech. The S&P 500 was down by more than 2% last week, its weakest performance in 2 months, while the Nasdaq was lower by 3%. The market has now given back half of the post-Trump election win gains.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.