Gold and WTI Crude technical analysis and trade ideas
WTI Crude May future
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WTI Crude held above strong support at 8000/7950 & unfortunately we did not get a buying opportunity here yesterday. Longs here today need stops below 7900.
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We shot higher to my targets of 8180/8200 & almost as far as 8255/75, with a high for the day at 8248.
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Further gains are expected in the 4 month bull trend & above 8290 look for 8370/90 as the next target.
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Today's support at 8140/8110. Longs need stops below 8070. Targets: 8200, 8240, 8290.
Emini S&P June future
Emini S&P: bulls remain in control, with buying the dips still the winning strategy, despite the market looking tired & I believe entering an overdue sideways consolidation.
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Further gains are expected on the bullish breakout, targeting 5221/24 & 5338/42.
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Obviously I remain a buyer on any weakness in the unstoppable bull trend.
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First support at 5245/35. Longs need stops below 5225.
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The best support for this week should be at 5195/85 & longs need stops below 5170.
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