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