As the world’s best investment manager and financial market journalist, I am here to provide you with the latest insights into the AUGUST contract for WTI Crude and Gold. In the last session, the low and high for the AUGUST contract were recorded at $80.07 – $82.88, showing a significant range for potential trading opportunities.
For WTI Crude August, we saw a crash towards strong support at 8020/7980, with a predicted low for the day. Long positions should consider placing stops below 7920 on Monday, with targets set at 8070, 8100, and 8130. A break below 7920 could signal a sell opportunity, targeting 7850 and potentially 7750/7700.
Gold experienced a collapse last week in a counter-trend move, leading to a sell signal below 2440. Short positions hit targets at 2436/31, 2415, and even offered a buying opportunity at 2410/05. However, long positions needed stops below 2399, resulting in a significant drop in value for Gold. Resistance at 2405/10 could lead to a test of support at 2390/85, with stops below 2382 for long positions. A break below 2382 is a sell signal, targeting 2365/60.
In terms of Silver, we predicted a target of 2930/20, with a potential reach of 2900/2890 for profit-taking. Silver hit the target at 2900/2890 as expected, with minor resistance at 2950/60m. The best sell opportunity is at 2995/3005, with stops above 3015 for short positions. Support could be found at 2895/85, with a potential buying opportunity at 2850/40 if a break below 2880 occurs.
In conclusion, analyzing these market movements can provide valuable insights for traders and investors. Understanding key support and resistance levels, as well as potential buy and sell signals, can help individuals make informed decisions when navigating the financial markets. By staying informed and following market trends, individuals can optimize their investment strategies and potentially enhance their financial outcomes.