Friday, 24 August 2012

Gold and Silver test resistance levels.

 Gold and Silver charts are very similar. Both are trying to break out of the sideways triangle and are testing my last resistance level. If Gold can hold above 1670$ and Silver above 32$ the new upward trend will be confirmed. 

It is important that support has been held and prices look like they are moving in an impulsive form. Silver has been slower in its rise but I think will pick up eventually. My first choice as mentioned several times before is Gold. Targets for gold are near the all time high at least, if not higher. Always keep an eye on USD as weakness will help prices rise. Dollar strength might put pressure in these metals. So keep an eye out for volatility there too. 

For more info and help on how to trade gold, don't hesitate to contact me. Thank you for taking the time to read my thoughts.

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