Gold holding below first resistance at 1303/01

Jason Sen DayTradeIdeas.co.uk

Gold _ Silver Spot

Gold holding below first resistance at 1303/01 see us target 1294/92 before important support at 1284/82. Longs need stops below 1279. A break lower is an important sell signal. First resistance at 1301/03 is the main challenge for bulls today. Shorts need stops above 1305. A break higher targets 1310 before resistance at 1312/13.

Silver shorts at 1532/35 as we collapsed to test the March/April low at 1496/88. A break lower is another sell signal targeting 1485, 1475/72 perhaps as far as 1465. If we hold the most important support of the day at 1496/88 look for 1505, perhaps as far as resistance at 1515/18 on the bounce.

Author

Jason Sen

DayTradeIdeas.co.uk

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