Gold meets resistance at $2,404 today

Jason Sen DayTradeIdeas.co.uk

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:

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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