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Tuesday, June 22, 2021

Gold And Silver Forecast: Sep 8, 2020

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Gold tests very minor support at 1925/21 this morning but longs here are risky. I favor selling a break lower targeting 1917/15, 1910/09 and perhaps as far as 1902/1898.

I would prefer to sell into shorts on a bounce to 1936/38. Stop above 1941. Try shorts again at 1950/55 with stops above 1960. A break higher is a short term buy signal targeting 1970/72 and perhaps as far as strong resistance at 1981/84. Shorts need stops above 1990.

Silver best selling opportunity in the sideways trend is lower today at 2710/20 with stops above 2740. A break higher targets 2770/75 and 2800/2810.

Minor support at 2680/70 then better support at 2640/30. Longs need stops below 2620. A break lower is a sell signal targeting 2605/00 and minor support at 2675/70.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Neutral
Gold Chart

Gold Chart

Gold And Silver Forecast: Sep 8, 2020

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