Gold meets resistance at $2,404 today
|Gold longs at 2362/57 worked perfectly on Friday hitting all targets of 2370, 2380, 2385.
Another good week trading Gold last week. We were buying on Monday & Tuesday at $2390/85 & taking profits at $2415.
We then sold the break below $2382 on Thursday & took profit at 2365.
It's difficult because Gold is right in the middle of the 4 month range, so there is no pattern, trend or pattern to follow.
If we continue higher look for 2400 & resistance at 2404/08. Shorts need stops above 2413.
A break above 2413 we can target 2429/31.
Support at 2362/57 & longs need stops below 2352.
Silver
Silver should meet resistance at 2840/50.
Shorts need stops above 2865.
Targets: 2800, 2770, 2750.
Today’s trade ideas with stop loss & targets:
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