Gold
- Recently, I predicted a bullish trend for gold (). The price has indeed continued to rise significantly.
- Breaking above 2427 signaled a buy opportunity, with targets set at 2433 and a retest of the all-time high at 2446/49. Further break above 2450 confirmed a buy signal, leading the price to 2475 currently.
- Our next targets include 2487/90, 2495/99, and 2507/09. Potential highs at 2516/19 and 2526/29 are also within reach.
- For buyers, consider entering at 2450/45 with stop losses below 2440. However, a dip to 2426/23 could indicate a slide towards support at 2419.
Silver
- Silver () has shown strength with successful long positions at support levels. A break above 3095/3105 signals a buy opportunity targeting 3125 and potentially 3170/75.
- Look for a buy signal above 3180, aiming for 3205/10 and 3225/30, with an extended target at 3245/50.
- Support levels at 3105/3095 and 3060/50 offer buying opportunities, with stop losses placed below 3085 and 3030, respectively.
WTI Crude August Future
Last session’s low and high for the August contract were at 8022 and 8193, respectively.
- August futures broke support at 8150/8100 and now meet support at 8010/7980. Consider stops below 7940, with targets at 8100, 8150, and possibly 8220.
- A sell signal triggers below 7940, targeting the 8-month range around 7850, with potential further losses towards 7730/00.
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**Analysis:**
In this update, we see a bullish trend in both gold and silver prices, with potential buying opportunities for traders. Gold has shown significant gains, with targets set at various levels for potential profit-taking. Silver also exhibits strength with successful long positions at key support levels. On the other hand, WTI Crude August Futures face a support break, indicating potential downside risk. Traders should carefully monitor stop loss levels and target prices to capitalize on these market movements.