GOLD Moving sideways.
Gold remains in a range above support at 1272 and below resistance at 1295. This validates a bullish reversal pattern with an upside potential at 1337. Support can be located 1263 (previous resistance) has induced some buying interest. Another hourly support lies at 1260 (rising trendline). An hourly resistance can now be found at 1280 (intraday high).
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).
SILVER Falling.
Silver reversed previous bullish momentum yet not technical picture. Silver is now targeting support at 18.15 (rising trendline). Strong resistance is given at a distance at 19.00 (09/11/2017 high). Key support is given at 17.74 (10/04/2017 low) then 16.82 (15/03/2017 low).
In the long-term, the death cross indicates that further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).
CRUDE Declining within bearish channel.
Crude oil has pulled-back after its recent sharp rise. Support can be located at 50.71 (08/02/2017 low). Hourly resistance can be located at 54 (07/04/2017 high then strong resistance stands at 55.24 03/01/2017 high).
In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness are very likely. Strong support lies at 24.82 (13/11/2002) while resistance can now be found at 55.24 (03/01/2017 high).
