Crude and Gold Brief - June 28, 2010

Crude:


Long term:

Daily 1 month


Overall trend says down month to month.

Short term:

Hourly Chart



This week we are seeing the test of significant psychological resistance at 80. Haven't got a chance to look at historical RSI data, but there is a high possibility of a new range of 75 - 80 on to higher levels in an upward trend; Upside is to 86.

This week as the chart indicates, range bound, we will see 75 before 80.


Gold:




Gold is looking topsy. The worse of the sentiment selling may be over and we may see a correction in prices. We should see lower levels into July and August.