Gold Spot selling opportunity at strong resistance at 1940/45.
Silver Spot manages a recovery to strong resistance at 2630/40 & topped exactly here.
Today’s Analysis
Gold holding strong resistance at 1940/45 targets 1930 and minor support at 1915/12 (hit). On further losses look for 1895/90 then the best buying opportunity of the day at 1865/55. Buy with stops below 1845. An unexpected break lower targets 1835/30.
We topped exactly at strong resistance at 1940/45 yesterday. Sell here today. Shorts need stops above 1950. A break higher targets 1965/70.
Silver topped exactly at strong resistance at 2630/40. Shorts need stops above 2670.
A break higher targets strong resistance at 2710/20. Stop above 2740.
Minor support at 2500/2490 but below here targets 2425 with strong support at 2400/2390. Longs need stops below 2350. If we continue lower I’m expecting an excellent buying opportunity at 2290/80, with stops below 2260.
Trends
- Weekly Outlook Positive
- Daily Outlook Positive
- Short Term Outlook Neutral
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