Gold continues sideways, trading in a bull flag formation as we predicted for several weeks and this could go on for several weeks (unfortunately it is!). We edge higher to 1486, closing in on important resistance at 1490/92.
Silver we wrote: finally beats 1710/12 as expected for a buy signal targeting 1726/30, perhaps as far as minor resistance at 1740/45 this week.
Gold beat 1478/80 to top exactly at the next target of 1485/86. Expect strong resistance at 1490/92 but a break above 1492 is an important medium-term buy signal. Buy into a long and hold for a swing trade.
Minor support at 1471/73 but below 1470 tests support at 1463/61. Below 1460 targets 1457/56. A break below 1454 targets 1450 and 1445.
Silver topped exactly at the next target and minor resistance at 1740/45. A break higher eventually is expected, targeting 1755/58 and 1763/66.
Downside is expected to be limited but below 1740 risks a slide to 1730/25. Try longs with stops below 1720.
Trends
Weekly outlook is positive
Daily outlook is neutral
Short Term outlook is neutral