Market Research

24th sept mkt outlook

DEC GOLD Resist: 120820*, 121550-80 ST Trend: Sdwys/Up (120330) Supprt: 119900-119600, 118750* Obj: 123200? TRP: 1187.50 Comment: The attempts to start an upturn from corrections are struggling / failing. Friday’s reversal and drop alerts for a roll off to lower prices. A close under 119900 is negative. A close under 118750* marks a short term downturn and likely selloffs into the low 1170’s. A pop over Friday’s 121580 high alerts for a positive upturn and climb to 123200. DEC SILVER Resist: 1439-14405, 1465* ST Trend: Sdwys/Down (1431) Supprt: 1400, 1395-1390 Obj: None TRP: 14.65 Comment: The market is still bearish and drop under 14105 hints for another selling wave to challenge below 1400-. A close under 1395-1390 is bearish. Last week’s rally attempts give a slight bull bias. A close over 14405 should be friendly. A close over 1465* is needed to confirm a short term bottoming turnaround. NOV CRUDE OIL Resist: 7110+, 7300+ ST Trend: Sdwys/Up (7071) Supprt: 7033-30, 6931* Obj: 7300? TRP: 69.31 Comment: The market is bullish, challenging for an upside breakout. A close over 7110 confirms a drive to 7300. The reluctance to hold over 7110 cautions for minor corrective congestion back inside last Wednesday’s rally, […]

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