Gold shot higher to the 100 day moving average at 1228

Jason Sen DayTradeIdeas.co.uk

Gold & Silver Spot

Gold shot higher to the 100 day moving average at 1228 (just missed it by almost 2 points). Shorts are risky but we are likely to see profit taking to 1218/17 with a buying opportunity at 1212/10. Stop below 1206. 1227/29 is the most important of the day but a break higher is another buy signal targeting 1233 & quite strong resistance at 1236/38. A high for the day expected if we reach it.

Silver less exciting than Gold (as usual) but holding above 1451/53 meets a selling opportunity at 1470/75. Stop above 1485. A break higher targets 1520/25.

Below 1450 targets 1420/1415 before the September low at 1397/90.

Author

Jason Sen

DayTradeIdeas.co.uk

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