Gold pushed higher through minor resistance at $4,170/4,175 [Video]

Jason Sen DayTradeIdeas.co.uk

Gold

Gold pushed higher through minor resistance at 4170/4175 with the break above 4185 triggering a buy signal targeting 4195/99 & even 4210/15 was possible.

We made a high for the day at 4207 a few hours before the end of the week, so we missed the 2nd target by only $3 - still a good trade, with profit potential of $20.

On the open we have a sell opportunity at 4210/4220 & shorts need stops above 4230.

A break above 4230 is a buy signal targeting 4245 & the 100 day moving average at 4257/4260 for profit taking.

Shorts at 4210/4220 can target 4185 then 4165/60 for profit taking.

Just be aware that we could continue lower & below 4160 targets 4145.

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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