Commodity outlook.
Jason Sen of - - Fri Feb 22, 5:30AM CST

Gold longs at 1330/29 were unexpectedly stopped below 1325.

Silver shorts the selling opportunity at 1620/25 worked perfectly & outlook remains negative so hold shorts.

Gold unexpectedly wiped out all the strong gains for the week yesterday. Key support at 1320/18 today. Longs need stops below 1316. Minor support at 1312/11. A break below 1309 targets 1303/02. Try longs with stops below 1299.
Holding key support at 1320/18 targets 1324/25 & resistance at 1330/31. Take profit on longs as the longer term outlook turns negative. We could start to short at 1336/37 & add on moves towards 1345.

Silver shorts at the selling opportunity at 1620/25 working as we dip to 1600. Outlook negative & THIS MARKET COULD CRASH IN THE WEEKS AHEAD! Hold shorts looking for first support at 1580/70. We bottomed exactly here so scalpers are benefiting from small bounce but I would prefer to hold a swing trade short position & look for further losses on a break below 1560 to 1530/20.
Try shorts if we get anywhere near 1620/25 with stops above 1635.

WTI Crude April reversed from strong resistance at 5760/80 as expected. Outlook negative.

WTI Crude tops at strong resistance at 5760/80 & this is obviously key to direction. Holding here targets minor support at 5670/60 (we bottomed exactly here) then 5620/10 which could see a low for the day. However be ready to sell a break below 5580 to target 5560/50 & 5535/25.

Try shorts at strong resistance at 5760/80 with stops above 5810. A break higher is a buy signal targeting 5870/80 & 5950/60.