Jugok Trade

It is not easy to predict the market. The markets have reached their support and resistance lines.

Gold: Gold prices have stopped falling at the support of $ 1269.5, as expected. The resistance lines are $ 1286.56 and $ 1299.5. XAUUSD will drop a little more. They can not help but test whether $ 1250 is supportive.

The silver is struggling to keep the support line of $ 14.95. I expected that support line was not strong, and I still think so.  $ 15.03 is a very meaningful level. The resistance line is $ 15.19. XAGUSD will drop a little more. I will hold the sell-position.

[Gold price daily chart, XAUUSD]


WTI: The oil market is calm. Crude oil prices have reached their resistances, as already talked about. If crude oil prices fall, it would be better to look for opportunities to buy. They will rise further in the medium and long term.

Euro: The euro is moving as I expected. EURUSD will decline in the medium term. The resistance lines are 1.1208 and 1.1277. Support lines are 1.1084 and 1.08…

The market situation is very interesting. Market will go its own way.

Gold: Gold prices will fall a little more. The support line of $1269.5 is weak. XAUUSD is likely to drop to $ 1250. The resistance line is $ 1268.55.
Silver prices will also fall a little more. XAGUSD is likely to drop to $ 14.68. The resistance line is $ 15.03.

[Gold price daily chart, XAUUSD]

WTI: The oil markets are resting, and they are getting hotter. Crude oil prices will continue to rise. Brent oil will rise to at least $ 79 and the WTI will rise to at least $ 70.

Euro: The euro has finished resting and has started moving. 1.1173, a meaningful price line, was broken. In the medium term, EURUSD will fall to 1.0841.

The precious metal market is moving as I expected. $ 1270 a very decisive for XAUUSD was broken. $ 14.95 a very decisive for XAGUSD has been broken. It was decided where the markets would go.

The silver prices, XAGUSD will fall to $ 14.68 in the short term. In the medium term, they will fall to $ 14.17 and in the long term to $ 12.98. The resistance line in the short term is $ 15.06. In the medium term, the resistance line will be $ 15.19.

I have silver sell-position, and I have expected the target price to be $ 14.68. The silver prices have been closer to the target price. I will wait.

[XAGUSD, Silver price weekly chart]

There are many opinions about interest rates. I do not know if the interest rate will go down or go up. However, Treasury bonds and notes prices are likely to rise. I have said that since the end of last year.

What happens when the bond market collapses? It seems not yet. Of course, one day in the future it will. 10 year T-Note futures are likely to rise to around 125.85. The support line is 122.67. If they fall below 122.67, it would be better to look for opportunities to buy.

 [ 10 Year T-Note futures weekly chart, CME CBOT: ZN]