Gold: Key support at $1,595

Jason Sen DayTradeIdeas.co.uk

Gold and Silver Spot

Gold key support at 1595/90 today. Longs need stops below 1580.

Silver saw strong resistance at 1445/55 work in the end as we reversed from 1470.

Daily Analysis

Gold key support at 1595/90 today. Longs need stops below 1580. A break lower is a short term sell signal targeting 1575 & support at 1565/62.

Longs at 1595/90 target 1610/15 & 1625/35. On a break higher look for 1645/48. Above 1650 targets 1655 & 1670, perhaps as far as 1680 this week.

Silver minor support at 1399/95 then a buying opportunity at 1355/50, with stops below 1335.

Strong resistance at 1445/55 but above 1470 targets 1500/10. If we continue higher look for 1535/40 then 1560/65.

Trends

Weekly outlook is positive.

Daily outlook is neutral.

Short Term outlook is positive.

Author

Jason Sen

DayTradeIdeas.co.uk

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