Failure to Beat Gold Resistance At 1362

Failure to Beat Gold Resistance At 1362

Gold Silver Reports — Failure to Beat Gold Resistance At 1362 — Gold holding minor resistance at 1362 in the sideways trend. Further gains are possible & meet a selling opportunity at trend line resistance at 1362, with stops above 1372. A break above 1365 (& close for confirmation) is a buy signal but we need a break above the August high of 1367 to target the year high at 1374/75.

Failure to beat minor resistance at 1362 again re-targets 1346/47 before lower triangle trend line support at 1341. Again this is the most important support of the day. Longs need stops below 1332. A breakout of the lower triangle trend line is obviously a sell signal to target 1329, perhaps as far as 1324 today.

Failure to Beat Gold Resistance At 1362

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