APR GOLD Resist: 131350*, 1319+, 132340* ST Trend: Sdwys/Up
(131340) Supprt: 130300-130240, 129580* Obj: 132340? TRP: 1295.80
Comment: Last Thursday’s reversal still warns for a failing advance. A close over 131350* is needed to
spark another climb to attack the resistance level at 132340*. A close over 132340* is bullish. If trade finds
rallies blunted at 131350*+, then be on guard for a slip lower. A close under 129580* is needed to start a
bear downturn.
MAY SILVER Resist: 1554*, 15615-1565 ST Trend: Sdwys
(15435) Supprt: 1540?, 1533*, 15265 Obj: None TRP: 15.54
Comment: Despite last week’s spikes higher, trade was unable to close over the 1554* retracement
resistance, keeping the trend bias down. Trade will need to close over 1554* to renew the bull wave to
1580+. If trade stays under 1554* today-Tuesday, be alert for a downturn. A drop under last Wednesday’s
low or close under 1533* will a flip the market back to negative trade.
MAY CRUDE OIL Resist: 5924, 5985-6007, 6105 ST Trend: Sdwys/Up
(5897) Supprt: 5825*-, 5697* Obj: None TRP: 58.25
Comment: The market is still in the short term bull trend, but Friday’s back off hurt the bull formation and
has trade positioned to attack 5925* support. A close under 5925* signals for a selling wave to 5697*. We
need to see a climb back through Friday’s range to rekindle bull forces and send a run to 6105/6344*.
RECOMMENDATIONS:
JUN GOLD: Shorts at 132590 should risk 132660 Stop. The objective is a multi-week downturn to 127790.