Market Research

20th april mkt outlook

JUN GOLD Resist: 135650*, 136040 ST Trend: Sdwys/Up (135240) Supprt: 134440, 134050*- Obj: None TRP: 1340.50 Comment: The short term trend is in question. Trade holds a slight bull bias based on creeping rallies off 134050* support. A close over 135650* rekindles bull trend forces. A reluctance to close over 135650* warns for a shift back to defensive trade. A close under 134050* will trigger selloffs. A drop through 132700 implies a decline to 132000-131600. MAY SILVER Resist: 1738, 1757 ST Trend: Up (17205) Supprt: 17065, 1698*, 1678* Obj: 1757 TRP: 1678.0 Comment: The market broke out over last week’s high and gives bull signals for additional rallies to reach 1757. Near term corrections that hold over 17035+ should bull flag to setup for rally attempts. A close under 1698* will drive selling to test 1678* for a short term turnaround. JUN CRUDE OIL Resist: 6887-6905, 6950, 7100+/- ST Trend: Up (6816) Supprt: 6738+, 6646* Obj: 7100? TRP: 66.46 Comment: The market is bullish, but achieved the 6850 target. The strong formation suggests a pop over Thursday’s high will trigger a bull tail stretch to 7100+/-. Be on guard for a back off / reversal from 7100+/-. Thursday’s reversal day […]

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