Gold: 1306/08 Is Key To Resistance; Silver Unable To Beat Next Target Of 1670
Jason Sen | May 25, 2018 04:59AM ET
Gold key to direction is strong resistance at 1306/08. We are holding shorts with stops above 1310. Bulls need a weekly close above here tonight for a buy signal in to next week targeting 1323/26.
Failure to beat 1306/08 targets 1301/00. Below here allows our shorts to kick in targeting 1297 and 1293/92 for some profit taking before the weekend.
Silver unable to beat the next target of 1670 and we topped exactly here. First support at 1655/50 but below here targets 1644/42 and 1633/30. We trade sideways with no direction.
Holding first support at 1650/55 re-targets 1670 before resistance at 1680/85.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.