Gold
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Gold did make a break above 2604 (despite Wednesday's negative candle) & if you bought back in to longs we hit my target 2620/22 perfectly and make a new all time high just above, at 2,631.
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New targets for this week: 2633/35, 2642/44 & 2648/50. If we continue higher look for 2655.
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First support at 2619/17 if you want to be aggressive about buying this week but we could certainly drift as far as 2612/11 if there is little activity on Monday.
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The best support should be at 2604/2599 & longs need stops below 2594.
WTI Crude November future
Last session low & high for the November contract: 7037 - 7145 (To compare the spread with the contract that you trade).
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WTI Crude should find resistance at 7100/7150. Shorts need stops above 7200. Targets: 7050, 7000.
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Support at 7000/6970 but longs need stops below 6920. Targets: 7050, 7100
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The best support should be at 6890/6860 but longs need stops below 6830 Targets: 6930, 6980.
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A break above 7200 is a buy signal targeting 7310/7330
(This story was corrected on September 23 at 8:25 GMT to say that new Gold all time high price is at $2,631 and not $2,525).
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.
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