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Gold Seeing Strong Resistance From 1206; Silver Key Support At 1397/90

Published 11/14/2018, 01:06 AM
Updated 07/09/2023, 06:31 AM

Gold & Silver Technicals

Gold has strong resistance from 1206 up to 1209. Shorts need stops above 1212. An unexpected break higher is a buy signal targeting 1215/16 and resistance at 1220/21.

Holding below 1200 retests 1195/94. Outlook is negative and further losses target 1191/90, 1185/84 and 1181/80.

Silver only thing that matters this week is key support at the September low at 1397/90. A break lower targets very important 2.5 year trend line support at 1375/70. (Should be worth trying longs despite the bear trend).

First resistance at 1425 could hold a rally but above here look for a selling opportunity at 1450/55, with stops below 1460.

Latest comments

Well gold took that tough 1209 resistance, and the next one at 1220 ,, silver did drop below the 1390 major support and is 50 cents above it now,,
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