Gold Reverses From 1797/99, Dips to First Support at 1782/80
2022.12.20 06:19
longs at strong support at 1780/75 and hit the next target of 1797/99 with a high for the day exactly here. has strong support again at 2270/50. The outlook remains positive.
Today’s Analysis
Gold reversed from 1797/99 has dipped to the first support at 1782/80. Longs need stops below 1771.
Longs at 1782/80 target 1790, then 1797/99. A break higher targets 1807/09. Eventually, a retest of 1822/24 is likely.
Silver longs at support at 2270/50 worked perfectly on the bounce to 2323. Minor resistance at 2330/35 was held yesterday, but eventually, this should be beaten to target 2360/65 & 2390/2400.
Strong support again at 2270/50. Longs need stops below 2235.
February resistance at 7620/70. Shorts need stops above 7730. A break higher is a buy signal targeting 7750 then 7900. Targets for shorts are 7520, 7420.
