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Gold, Silver & Oil Newsletter Update Jan 25th

GOLD TRADING

April gold closed sharply higher on Friday and above December’s high crossing at 892.20 thereby renewing the rally off October’s low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If April extends this week’s rally, October’s high crossing at 938.20 is the next upside target. Closes below the 10-day moving average crossing at 842.60 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 905.50. Second resistance is October’s high crossing at 938.20. First support is today’s low crossing at 853.80. Second support is the 10-day moving average crossing at 842.60.

Gold Trading Signals – www.TheGoldAndOilGuy.com

SILVER TRADING

March silver closed higher on Friday and above the upper boundary of this fall’s trading range crossing at 11.770. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends this week’s rally, the reaction high crossing at 12.430 is the next upside target. Closes below the 20-day moving average crossing at 10.047 would temper the near-term friendly outlook in the market. First resistance is today’s high crossing at 12.075. Second resistance is the reaction high crossing at 12.430. First support is the 20-day moving average crossing at 10.047. Second support is last Thursday’s low crossing at 10.320.  

CRUDE OIL TRADING

March crude oil closed higher on Friday and above the 20-day moving average crossing at 45.09 signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If March extends today’s rally, this month’s high crossing at 54.74 is the next upside target. Closes below December’s low crossing at 38.00 would open the door for a possible test of psychological support crossing at 30.00 later this winter. First resistance is today’s high crossing at 47.00. Second
resistance is this month high crossing at 54.74. First support is Tuesday’s low crossing at 39.11. Second support is December’s low crossing at 38.00.

Gold Trading Signals – www.TheGoldAndOilGuy.com
Chris Vermeulen

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Gold, Silver & Energy Commentary Update Wed Morning

PRECIOUS METALS 

February gold closed higher on Tuesday due to short covering as it consolidated some of Monday’s decline. The high-range close sets the stage for a steady to higher opening on Wednesday. Despite today’s rebound, stochastics and the RSI have turned bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 844.10 are needed to confirm that a top has been posted. If February extends this fall’s rally, October’s high crossing at 938.80 is the next upside target. First sesistance is last Monday’s high crossing at 892.00. Second resistance is October’s high crossing at 938.80. First support is the 20-day moving average crossing at 844.10. Second support is today’s low crossing at 838.80.

March silver posted an inside day with a higher close on Tuesday as it consolidates some of Monday’s decline. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October’s low, the reaction high crossing at 12.230 is the next upside target. Closes below the 20-day moving average crossing at 10.735 are needed to confirm that a short-term top has been posted. First resistance is Monday’s high crossing at 11.770. Second resistance is the reaction high crossing at 12.230.
First support is the 10-day moving average crossing at 10.930. Second support is the 20-day moving average crossing at
10.735. 

ENERGY MARKETS 

February crude oil closed slightly lower on Tuesday due to light profit taking as it consolidated some of the rally off December’s low. Today’s mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If February extends this month’s rally, the reaction high crossing at 52.95 is the next upside target. Closes above the reaction high crossing at 52.95 are needed to confirm that a short-term low has been posted. Closes below last Wednesday’s low crossing at 36.94 would temper the near-term friendly outlook in
the market. First resistance is today’s high crossing at 50.47. Second resistance is the reaction high crossing at 52.95. First support is the 20-day moving average crossing at 43.96. Second support is the 10-day moving average crossing at 41.94.

Click Here to Read My Special Report: http://www.thegoldandoilguy.com/goldandoilnewsletterjan2.php 

Chris Vermeulen