Bullish Gold Targets 1919.9 Apr 29 High

WTI futures traded higher Thursday, extending the recent recovery. A continuation higher would signal scope for a test of resistance at $81.50, the Jan 3 high and a bull trigger. Clearance of this hurdle is required to strengthen a bullish theme. The broader trend outlook still appears bearish. A reversal lower would expose the bear trigger that has been defined at $70.31, the Dec 9 low. Trend conditions in Gold remain bullish and the yellow metal traded higher Thursday, extending the current uptrend. This week’s climb maintains the positive price sequence of higher highs and higher lows and note that moving average studies are in a bull mode position - reflecting the current uptrend. The yellow metal has traded above $1900.00, this opens $1919.9, the Apr 29, 2022 high. Support to watch lies at $1835.4, the 20-day EMA.

• WTI Crude up $0.23 or +0.29% at $78.7
• Natural Gas down $0.03 or -0.76% at $3.673
• Gold spot up $10.97 or +0.58% at $1907.7
• Copper down $2.25 or -0.54% at $417.55
• Silver up $0.12 or +0.51% at $23.8958
• Platinum up $6.66 or +0.62% at $1075.45