JUN GOLD

Resist: 1661.80, 1674.20, 1689.80-1701.50

Supprt: 1641.50-1639.30*, 1620.90
Comment: Current rallies suggest a short term reversal that could boost a near term retracement up to 1689.80-1701.50. Use a surge over 1685.50 to spark a run at 1689.80+. A close over 1701.50 is bullish. However, be ready for defensive congestion along 1649.80- and a close under 1639.30* will rekindle bear forces, releasing selloffs to attack the previous week’s low as well as leave trade vulnerable to declines under 1600-.


MAY SILVER

Resist: 31.95, 32.40*, 33.50*
Supprt: 30.95-, 30.62*
Comment: The market is still in a bear formation and downturn from flagging corrections still targets a selling wave to test against the 30.62* weekly support level. Use a drop under the congestion lows to release pressing declines against 30.62*. A close over 32.40* triggers a bull turn and should boost retracements back over 33.00+, likely sending a climb to challenge 33.50* for a larger upturn.