Gold: Buying opportunity again at 1796
|Gold _ Silver
Gold Spot longs at our buying opportunity at 1796/94 worked perfectly as we target 1806/07& 1812/14 for a potential 16/18 point profit on this scalping opportunity.
Silver Spot in a 2 steps forward, 1 step back trend. We bounced just 4 points above bestsupport today at 1880/77.
Daily Analysis
Gold longs work perfectly again with our magic support at 1796/94 as we hit the 1812/14target as hoped. Further gains always possible for a retest of the 1817 high, with next targetsof 1825/27 & 1835/37.
A buying opportunity again at 1796/94. Longs need stops below 1791. A break lower is asmall sell signal & risks a slide to 1784/82. Try longs with stops below 1778.
Silver bounce from just above best support today at 1880/77 beats 1900 to keep bulls incontrol re-targeting 1930/35. A break higher targets the 2019 high of 1960/65. Obviously thisis key. If we continue higher look for 2000/05.
Best support again at 1880/77. Longs need stops below 1870. Next downside target & buyingopportunity in the bull trend is at 1844/40, stop below 1835.
Trends
Weekly outlook is positive
Daily outlook is positive
Short Term outlook is neutral
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