Gold – Silver
Gold Spot consolidates losses by trading sideways. A break below 1855 is a sell signalfor today & a break below 1847 is another sell signal.
Silver Spot we are short at first resistance at 2430/40 with stops above 2450.
Daily Analysis
Gold not doing much this week after the crash on Monday. First resistance at 1883/86but a break higher is a buy signal targeting 189 & selling opportunity at 1897/1900with stops above 1904. A break higher however targets 1916/18, perhaps as far asresistance at 1921/23.
Holding first resistance at 1883/86 targets 1876 & 1872. If we continue lower look for1860/58 & 1855. A break below support at the September low at 1848/47 is a sellsignal initially targeting 1835.
Silver shorts at first resistance at 2430/40 target 2390/80 before a retest of thisweek’s low at 2360/55. A break lower targets minor support at 2330/25. A breakbelow 2315 signals further losses to 2300 before a retest the October low at 2265/55.
Shorts need stops above 2450 allows a recovery to resistance at 2465/70. A breakabove 2480 opens the door to 2500/10.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
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