Gold: Reversed from 1797/99 has dipped to first support at 1782/80 [Video]

Gold longs at strong support at 1780/75 hit the next target of 1797/99 with a high for the day exactly here.
Silver has strong support again at 2270/50. Outlook remains positive.

Jason Sen DayTradeIdeas.co.uk

Today's analysis

Gold reversed from 1797/99 has dipped to first support at 1782/80. Longs need stops below 1771.

Longs at 1782/80 target 1790 then 1797/99. A break higher targets 1807/09. Eventually a retest of 1822/24 is likely.

Silver longs at support at 2270/50 worked perfectly on the bounce to 2323. Minor resistance at 2330/35 held yesterday but eventually this should be beaten to target 2360/65 & 2390/2400.

Strong support again at 2270/50. Longs need stops below 2235.

WTI Crude February resistance at 7620/70. Shorts need stops above 7730. A break higher is a buy signal targeting 7750 then 7900.

Targets for shorts are 7520, 7420.

Author

Jason Sen

DayTradeIdeas.co.uk

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