Gold failure to beat 1306/08 sees us retrace to target of 1301/00 & 1297 with minor support at 1293/92 for some profit taking & we bottomed exactly here! Outlook negative so longs are too risky (although would have worked yesterday - I was playing it safe!) & further losses target 1288/87.
Key to direction is strong resistance at 1306/08 this week. Shorts have worked perfectly of course but need stops above 1310 today. A break higher is a buy signal targeting 1313/14, 1317/18 & perhaps as far as 1323/26.
Silver topped exactly at 1655/50 to target 1644/42 & perhaps as far as 1633/30. Below 1630 is far more negative, targeting 1615/12 before the May low at 1604.
Minor resistance at 1650/55 held perfectly yesterday, but above here targets 1670 before resistance at 1680/85.