Vi använder en mängd olika cookies för att du ska få den bästa användarupplevelsen. Genom kontinuerlig användning av denna webbplats godkänner du vår användning av cookies. Du kan läsa mer om vår policy för cookies och redigera dina inställningar här eller genom att följa länken längst ner på alla sidor på vår webbplats.
Gold could target $1200
Although it has faltered around the 14-day EMA ($1184), there is still reason to expect fresh upside. Daily stochastics remain bullish, and so once the hourly stochastic turns higher and gives a bullish crossover, we can expect the metal to bounce. A first target is still $1190, and then to $1200.
The price has yet to seriously test the 200-hour SMA at $1182, but only a move back to $1175 would imperil the bullish outlook.
Silver eyes $16.20
Silver’s downside move is not over yet it seems, with a drop through $16 suggesting there is more to come. Fresh downside targets now lie in the direction of $15.60.
A bounce needs to clear yesterday’s high of $16.20, ideally coupled with a bullish crossover in daily stochastics to suggest a fresh move to the upside.
Brent could move back to 50-hour SMA
A steady rally in recent days reinforces the idea that we will see the price move back in the direction of the May high at $70. Thus we look to ‘buy on the dips’, with a move back to the 50-hour SMA at $65.60 being one possible entry point.
We have yet to have a fully oversold reading on daily stochastics however, so until that occurs in brent I would stand aside.
WTI could target early May high
The mark of $61.50 is providing some resistance, with the price at the top end of the trading range that has dominated for the past six weeks. A break above here would target the early May high $62.70 for WTI.
Support could be found at the rising 50-hour SMA at $60.65, with a bigger move lower testing the 200-hour MA at $59.69.