Gold Tops At 5-Year Resistance; Silver Collapses

Silver Collapses

Gold Silver Reports – Gold topped exactly at important 5 YEAR trend line resistance at 1363/65 for a sell signal. Longs at first support at 1345/44 worked perfectly with a potential 10 point profit. Exit now. Try shorts if we get anywhere near 1360/65 with stops above 1375. If we unexpectedly close the week above 1366 we should target Fibonacci resistance at 1379/80 next week.

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Gold Tops At 5-Year Resistance; Silver Collapses via @marketinvestor

Gold Downside Expected To Be Limited; Silver Longs Need Stops Below 1700

Gold Downside Expected

Gold fills the gap at 1342/43 with some profit taking possible in overbought conditions. Downside is expected to be limited with first support at 1335/34. Stop below 1330 and look for a better buying opportunity at 1326/25. Stop below 1322. Eventually we should continue higher above 1345 to 1249/50 and the 1357/58 high for 2017.

However we meet more important 5 YEAR trend line resistance at 1363/65.

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Gold Downside Expected To Be Limited; Silver Longs Need Stops Below 1700 via @marketinvestor