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Gold, Silver, Brent Weekly Analysis

Gold Weekly Review

Gold, Silver, Brent Weekly Analysis

Weekly Review:

During The previous week, Gold markers fell and even tested the key level $1059. During the cause of this week, we expect the pressure to go short to continue and even head lower to 1050. Should the latter be the case, then we expect gold markers to continue short with our ultimate target at 1000 which is a major monthly support
If gold markets successfully reaches 1000, then even in case of a bullish candle on the 4hour charts, we will be very reluctant to go long. But if the price should close above  1060, then we may consider going long with targets above 1080

Trade Recommendations:

As long as the commodity trades below 1059, look for short positions with ultimate target at 1000

Silver Weekly Review

Gold, Silver, Brent Weekly Analysis

Weekly Review

Just as in Gold markers, during the previous week, Silver markets fell and even tested the recent low. From correlational analysis, we believe that during the course of this week, silor even lower to $13.500. As long as Silver trades below the recent low in the weekly chart, we will be keen to look for short positions with targets below $13.50. A clear close below the green trend line, will confirm this anticipated downward move.

Trade Recommendations:

As long as Silver trades below the recent low on the weekly chart, look for short positions with targets below $13.01

Brent Weekly Review:

Gold, Silver, Brent Weekly Analysis

Weekly Review:
 
During the previous week, Brent markers fell considerably but found a minor support a long $43.766. Although the markets is somehow bullish, and may bounce off from this level, the pressure from above is high and could keep the markers heading short for as long as it the price trades below $37.83. In case the market shoot upwards, we expect the upward move to go only up to $40.46. This is a very significant weekly resistant and therefore we will be keen to look for bearish candles along this level to sell.  At the moment, we are very reluctant to go long, since the supply of oil by far surpass the demand for oil

Trade Recommendations:
 

As long as Brent trades below $37.83, look for short positions with targets below $36.00

Graham Osano
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