Gold Silver Reports – Gold markets tried to rally during the week but found enough resistance above the $1275 level to roll things over and form a bit of a shooting star.
Gold Silver Reports – The WTI Crude Oil market broke down significantly during the day on Wednesday, testing the $52.50 level IV resistance, and then rolling over. This is also in reaction to a larger than anticipated inventory build, as it shows we continue to struggle to burn off the massive oversupply of crude. I think if we can break down below the $51.50 level, the market could drop significantly.
Gold Silver Reports – Gold Price Report October 26, 2017 – Gold markets were slightly positive during the day, but gave back most of the gains as we continue to consolidate around the $1275 level. I think we break down below the $1270 level, the market should then go down to the $1250 level underneath.
Gold Silver Reports – Gold Spot Price Report October 17, 2017 – Gold markets have shown a bit of strength during the Monday session, as we continue to hang above the $1300 level.
Gold Silver Reports – Gold Kiss a Wall and Turns Lower – Gold seemed to hit a wall on Monday around the 1305.00 U.S Dollars an ounce level and sunk lower.
Gold Silver Reports – Gold Spot Outlook October 13, 2017 – Gold markets rallied initially during the day on Thursday, reaching towards the $1308 level but finding a significant amount of resistance. We rolled over from there and reach down towards the 24 hour exponential moving average, as the market found buyers near the $1277 level.
Gold Silver Reports – Gold spot markets initially went sideways on Wednesday, but did drop a little bit as we started reach towards the end of the day. I think that it’s only a matter of time before the buyers return though, unless of course the FOMC ends up being very hawkish, which would be positive for the US dollar.