Gold – Silver

Gold Spot holding below 1889/90 keeps the outlook negative. Key support at 1859/57 so a break below here is a sell signal.

Silver Spot now trading in a range from 2320 up to 2355/60.

Daily Analysis

Gold gains are likely to be limited with first resistance at 1875/77. Shorts need stops above 1880. Try shorts at 1887/89 with stops above 1892.

Shorts at first resistance at 1875/77 target 1866/64 with first support at 1859/57. Longs need stops below 1854. A break lower is an important sell signal targeting 1848/46 & strong support at 1835/30 for profit taking but longs may still be too risky.

Silver holding resistance at 2355/60 A break above 2370 targets 2390 then a selling opportunity at 2420/30 with stops above 2440.

Minor support at 2285/75. Be ready to sell a break below 2250 targeting 2210/00 & 2175/65.

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Gold

 

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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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