Market Research

14th nov mkt outlook

DEC GOLD Resist: 121350-121400, 122320* ST Trend: Down (120280) Supprt: 119730, 119550-119300 Obj: 119550 TRP: 1223.20 Comment: The market is signaling a short term bear downturn, opening up potential for selloffs to 119550 and possibly a larger selling wave back under 118000-. Trade remains poised for follow through selloffs. Any corrections contained to the lower edges of Friday’s range will bear flag a setup for selloffs. A close over 122320* is needed to reverse the short term trend back up. DEC SILVER Resist: 14175, 1433, 14545* ST Trend: Down (1397) Supprt: 13965-, 1370-1360 Obj: None TRP: 14.545 Comment: The short term trend is down with selloffs attacking for a breakout under the 13965 September low. A close under 13965 opens up potential for a significant selling wave to 1370-1360. If trade is reluctant to close under 13965, we may see a near term bounce and some corrective congestion, but a close over 14545* is needed for a reversing turnaround. JAN CRUDE OIL Resist: 5710?, 5894* ST Trend: Down (5549) Supprt: 5536-00, 5451 Obj: None TRP: 63.17 Comment: The market is bearish, showing washout declines against a weekly support level at 5536*. The momentum of selloffs should try to extend declines […]

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