Minor resistance at 1953/56 could hold a rally today. However if we continue higher we should meet resistance at 1968/70.
Silver XAGUSD has been in a volatile sideways consolidation, up for a couple of days, then down for a couple of days in the sideways trend.
We are holding with the range set 3 weeks ago of 2235-2370. I will wait for a breakout....which could be to the downside if we follow Gold. A break lower targets 2195/90, perhaps as far as 2170/65.
WTI Crude December futures broke the lower end of the 1 week range at 8040/8000 hitting our targets of 7940/10 then 7800/7760. I hope you managed to short on the breakout.
Yesterday we wrote:
With bears in control, further losses are expected towards 7590/50 & 7510/00. (A low for the day here yesterday). A break below 7470 signals further losses towards 7390/60.
Gains are likely to be limited with minor resistance at 7760/90. Shorts need stops above 7830.
