Gold – Silver

Gold Spot held the retest of last week's low at 1850/49 for a small bounce to 1867.

Silver Spot bottomed exactly at last week's low at 2360/55.

Daily Analysis

Gold bounces to first resistance at 1863/65. Try shorts at 1875/78 with stops above 1883. A weekly close above here is a buy signal for next week. Today we will target 1888/90.

Important support at the November low at 1850/49. Longs need stops below support at the September low at 1848/47 A weekly close below here is a sell signal initially targeting 1835 next week.

Silver try shorts at with stops above 2525/35 with stops above 2445. Our shorts target 2390/85 & perhaps as far as last week's low at 2360/55. Further losses target 2325/20.

Be ready to buy a break above 2445 targeting 2465/70. A break above 2480 is the next buy signal.

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Chart

Gold

 

XAGUSD

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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