Unlocking the Potential of Precious Metals: Gold, Silver, and WTI Crude OCTOBER Futures
- Gold () has broken above key levels, signaling a buy opportunity with targets at 2539/43, 2554/56, 2565, 2578/82, and 2586. The price hit a new all-time high at 2586, showing incredible accuracy in our predictions.
- Expect further gains up to 2599/2602 this week, with a potential target of 2620/22.
- Consider buying on a dip to support at 2561/57, with stop-losses below 2554 to protect long positions.
If the price retraces, look for a buying opportunity at 2544/40, with stop-losses below 2535 for long positions.
Silver
- Silver () has surged towards the August high at 3010/3018 and beyond to 3055/59, hitting a 4-month high at 3080/90 on Friday.
- Bulls need a break above trend line resistance at 3110 for the next buy signal, targeting the July high at 3150/75.
Support levels are at 3015/3005, with stop-losses below 2980 for long positions.
WTI Crude OCTOBER Futures
Last session’s low and high for the October contract: 6847 – 7032.
- The price has not yet reached the longer-term trend line at 7110/50, with a high at 7032.
- Consider selling at 7110/50 with a stop-loss above 7200. Alternatively, a break below 6840 could signal a sell-off towards 6800, 6730/20, and possibly 6660.
- Look for buying opportunities at 6550/6500, with stop-losses below 6400. Targets include 6690/6720, 6800/6820, and potentially 6870/6900.
- A break below 6400 could lead to further losses towards the 500-week moving average at 6200.
Analysis: This article provides insights into the current trends in Gold, Silver, and WTI Crude OCTOBER Futures, offering potential trading opportunities for investors. Gold and Silver are showing bullish momentum, with targets for long positions and key support levels. WTI Crude is facing resistance at key levels, with potential sell-off targets and buying opportunities highlighted. Investors should consider these factors in their investment decisions to maximize profitability and manage risk effectively.