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Gold – Hard bounce but fading

Test of downtrend resistance successful by hitting the support trendline channel. The technical structure suggests short-term downward moves but in the long-term, there is a growing upside momentum as per our previous research (click here).

Major support: 30900 level

Major support breakout can generate extreme selling pressure. The support breakout can come down the gold price up to 30700 – 30560. Don’t get confused by just breakout. It can be fake out also. Subscribe now to identify the support level breakout.

Crude oil – Collapse?

Everything depends upon the Feb month support trendline channel, look at the chart. In the longer term, the momentum is turning largely positive. We favor a continued bullish bias.

Reversal Target: 4700 – 4800 – 4900 – 5000
Downtrend Target: 4400 – 4300

Fake Out & Reversal Time will reveal soon. For the greedy trader and short-term investors for this is a perfect time. I will update that to paid members only.

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