Gold key to direction is resistance at 1316/15

Jason Sen DayTradeIdeas.co.uk

Gold & Silver Spot

Gold key to direction is resistance at 1316/15. Holding below here re-targets 1310/09 then a buying opportunity at 1306/04. Stop below 1300.
A good chance we hold first resistance at 1315/16 but above 1318 allows a recovery to 1321/22 before a retest of 1325/26. Further gains target 1330/31 & 1334/35.

Silver Spot key to direction today is strong support at 1690/85 with a low for the day likely as stated yesterday, but longs look risky. However a break below 1680 targets 1665/60 before a buying opportunity at 1627/22.
Minor resistance at 17.05/08 but key resistance again at 1718/20 of course - stops above 1735. A break higher however WILL BE A VERY STRONG LONGER TERM BUY SIGNAL targeting 1745, 1765, 1785/95 & the September high at 1820.

Author

Jason Sen

DayTradeIdeas.co.uk

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