The pullback in both gold and silver held at their respective uptrends as a support area to buy. We highlight the short-term targets on the charts below and will update on the higher Money Flow Unit targets once we get evidence of that underway.
The momentum shift in energy has taken hold. We would be adding to the XOP long and individual names in the group. The long trade was initiated on March 26 when price reversed off the blue ellipse buy signal. Happy to help with specific names.
We noted in our Tuesday report that we would add to our long position on a close above $85, but given the strong breadth in the sector, we believe we will get a close above $85 and would be adding right here.