Gold and Silver recover some losses [Video]

Jason Sen DayTradeIdeas.co.uk

Silver break below 6585 hit my 1st downside target of 6565/6560. We made a low for the day 5 ticks below.

Silver shot higher to first resistance at 6710/6730 & we made a high for the day just 13 ticks above here.

Holding below 6645/6630 risks a slide to 600/6590 before a retest of 6565/6560.

Further losses meet an excellent buying opportunity at 6490/6460.

This could mark a low for this downside correction but longs need stops below 6410.

Holding above 6650 allows a recovery to 6685/90 & 6720/6730.

Further gains meet resistance at 676755/6775.

Shorts need stops above 6800.

A break above can target 6830/6835 & 6870.

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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