JUN GOLD Resist: 130240, 130760*, 131100 ST Trend: Down
(129500) Supprt: 128900-, 128090 Obj: 128090 TRP: 1316.50
Comment: Yesterday’s sharp break highlights a short term downturn from recent weeks of flagging action
and signals for a selling wave that will attack under the previous 128750 swing low. The formation suggests
a drop to 128090. Any corrections contained to the lower third of yesterday’s downturn will bear flag to
setup for selloffs. A close over 131650* is needed for a bull reversing turnaround.
MAY SILVER Resist: 15095-1511, 1522* ST Trend: Down
(1499) Supprt: 1494, 1479, 14665- Obj: None TRP: 15.385
Comment: Yesterday’s sharp break highlights a short term downturn from recent weeks of flagging action
and signals for a selling wave to 1479 and 14665. Any corrections contained to the lower third of
yesterday’s downturn will bear flag to setup for selloffs. A close over 1522* is needed for a sustained
corrective retracement.
MAY CRUDE OIL Resist: 6020, 6105, 6344* ST Trend: Up
(5949) Supprt: 5877-, 5825*-, 5697* Obj: 6105 TRP: 58.25
Comment: The market is short term bullish. Yesterday’s bounce off 5825* support keeps trade positioned
to attack into a breakout rally over last week’s high, prompting a run to 6105 and chance for a drive to
6344*. A close over last week’s high confirms rallies into Friday-next week. A close under 5825* signals for
a selling wave to 5697*.
RECOMMENDATIONS:
JUL COFFEE: Longs at 9650- should risk a close under 9530 or 9430 Stop. The objective is 10615 and
chance to reach 11000.
JUN GOLD: Shorts at 131690 Stop should risk a close over 130760 or 131140 Stop. The objective is
129200 and chance to reach 128000.
MAY SOYBEANS: Wednesday’s sharp break alerts for the start of a larger selling wave to 877 3/4 and
likely to 851-. Consider selling at 893 1/2 and risk a close over 896 or 903 1/2 Stop. The objectives are 877
3/4 and 851.