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Gold Likely To Hold Above 1311/13 In The Short Term

Published 02/10/2019, 03:04 AM
Updated 07/09/2023, 06:31 AM

Gold - Silver Daily Forecast - 11 February 2019

Gold _ Silver

Gold looks likely to hold above 1311/13 for a short term buy signal targeting 1319, 1323 and a selling opportunity at 1324/26. Below 1311 tests trend line support at 1308/07 which could hold the downside. However further losses target the best support of the day at 1301/1299. Try longs with stops below 1297.

Silver holding support at 1563/60. This is the only level to risk a long (and it is working), with stops below 1555. A break lower targets 1542/40 and support at 1530/28.

Holding 1563/60 targets 1573 then quite strong resistance at 1583/86 for profit taking. (We topped exactly here). Could be worth trying shorts with stops above 1593. A break higher targets 1600 before a selling opportunity at 1618/22.

Latest comments

there some base on level 1295 but close yesterday seems like signal that gold wait trigger for the next wave..
sr. but levels of support and resists are on your drawing in bad places, probably because of this  you can not see that max is on level 1235-6 / future price /
1335-6 sr
yes gold is in safe zone 1297-1335-6 but .goes up, will create February ATH ar. 1335-6 / future price /, from here or ar. 15.02 or next week ar 20.02 will begin to fall. Monthly February low is ar. 1257 / future price / all G. L
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