April Gold (GCJ4) traded as high as $1,392.60 per troy ounce and as low as $1,320.80 which traded in a $71.80 range last week. Support 1 (S1) for April Gold is coming at $1,320.00, then Support (S2) at $1,275.00, then major Support 3 (S3) $1,200.00. Meanwhile overhead Resistance (R1) for April Gold is $1,350.00, then Resistance (R2) at $1,392.00, then major Resistance (R3) at $1,425.00. For now we are stuck in a channel in Gold from the $1,200 – $1,400 range, and for right now trading in the upper range.
May Silver (SIK4) traded as high as $21.65 per troy ounce and as low as $20.14 which traded in a $1.51 range last week. Support 1 (S1) for May Silver is coming at $20.15, then Support 2 (S2) at $19.00, then major Support 3 $15.00 per troy ounce. Meanwhile overhead Resistance (R1) for May Silver is $21.15, then Resistance (R2) at $21.60, then major Resistance (R3) at $22.00. If we could see it break through $22.00 then we could eventually see $24.00. For now the white metal is trading in a small channel, and will probably take something fundamental for it to break either direction.
June Palladium (PAM4) traded as high as $800.00 per troy ounce and as low as $746.30 which traded in a $53.70 range last week. Support 1 (S1) for June Palladium is coming at $765.00, then Support 2 (S2) at $750.00, then major Support 3 $700.00 per troy ounce. Meanwhile overhead Resistance (R1) for June Palladium is $760.00, then Resistance (R2) at $780.00, then major Resistance (R3) at $850.00. Palladium has major bullish set-up, gaining strength heading for its all-time highs of $862.00.
April Platinum (PLJ4) traded as high as $1,487.10 per troy ounce and as low as $1,424.20 which traded in a $62.90 range last week. Support 1 (S1) for April Platinum is coming at $1,435.00, then Support 2 (S2) at $1,420.00, then major Support 3 $1,380.00 per troy ounce. Meanwhile overhead Resistance (R1) for April Platinum is $1,450.00, then Resistance (R2) at $1,470.00, then major Resistance (R3) at $1,700.00. Platinum is surprisingly based on fundamental geopolitically uncertainty is still range bound $1,300.00 – $1,500.00, based on a current event like Palladium, Platinum would breakout.
Futures Basics & Essentials: The Beginners Guide to Trading Gold Futures
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