Silver now through strong resistance at 1650/55

Jason Sen DayTradeIdeas.co.uk

Gold held the 200 dma & March low at 1303.5/1302.5 as expected reaching targets 1315, 1318 before a high at 1322. Holding above 1318/16 is a short term buy signal targeting strong resistance at 1325/27 for some profit taking on any remaining longs. A break above 1328 however targets 1330/31 & 1333/35. Support in the 1318/14 area should hold the downside but below here targets 1310/1308 before better support at 1305/02. Our longs need stops below 1298. A break below 1297 is a sell signal however targeting 1288/86, 1282/80 & 1274/72.

Silver now through strong resistance at 1650/55 towards our selling opportunity at 1680/85. Stop above 1690. Failure to beat 1680/85 targets 1670 then 1655. On further losses look for minor support at 1635 then very important support at 1610/00. A break below 1595 is a sell signal targeting 1584/82, 1575/73 & 1562/57.

Author

Jason Sen

DayTradeIdeas.co.uk

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