Futures: ICE NYMEX COMEX COMEX

Crude Crude Gold Silver
Mar Mar Apr Mar
Spot 0728 GMT 112.22 97.70 1751.60 33.755
3 Day Trend Range Bearish Bullish Range
Weekly Trend Range Bearish Bullish Bullish
3rd Resistance 113.90 99.49 1769.70 34.270
2nd Resistance 113.10 98.68 1763.00 34.130
1st Resistance 112.82 98.11 1756.70 34.000
Pivot* 111.80 98.07 1746.30 33.626
1st Support 111.26 97.07 1742.80 33.530
2nd Support 110.50 96.55 1731.00 33.390
3rd Support 110.25 96.27 1727.00 33.270
Intraday Brent (ICE): Remains directionless within a large trading range
between $110.25 and $113.90 a barrel. While Wednesday's marginal high at
$112.82 caps, there is risk for a push below support at $111.26, to bring the
$110.26/$110.50 lows back into focus. Only a sustained break above $112.82
would open Tuesday's spike high at $113.90 again.
Weekly chart Brent trend: Range.
Intraday Crude Oil (NYMEX): Bear pressure is set to extend towards downwave
equality targets at $96.55 and $96.27 a barrel. Wednesday's probe below $97.40
puts bears in control, and there is scope for weakness to $95.30 on a concerted
push lower. Regaining ground above $98.68 is required to provide respite,
although only above $99.49 would lift the tone.
Weekly chart Crude trend: Bearish.
Intraday Gold (COMEX): The powerful uptrend extends above $1750.6 a troy
ounce to open the $1763.0/$1769.7 lower highs. The main short-term objective is
to reach the November reaction high at $1808.0, which formed one of the lower
highs of the recently-completed bull wedge. Support at $1742.8 will look to
cushion corrective weakness, although only below $1731.0 would concern bulls.
Weekly chart Gold trend: Bullish.
Intraday Silver (COMEX): Monday's high at $34.13 a troy ounce is back into
the picture, following the strong recovery from $32.93. Monday's bearish
outside day has been tempered by Tuesday's strength, and a break above $34.13
is threatened. Such a move would open wave equality targets at $34.27 and
$34.56. Corrective weakness will attract support while above $33.39, and only a
sustained break below $33.27 would concern bulls.