Technicals for Gold (Spot) and Silver (Spot) for 26th February 2013
Gold Spot resistance levels @ 1597/1604. Near term looking in correction mode. Major resistance @1628/30 levels. Convincing close above this level will take to 1665/70. Support for Gold (Spot) is 1584/77.
Major trend remains bearish unless it closes above 1630/35
Near term looking in correction mode, can go up to 1625/28 unless it doesn't closes below 1555
Silver Spot resistance around 2930/2955
Silver looks a buy around 2865/50 with a closing stop of 2760 for target of 3020/60 (but needs patience) .
Can see major short covering once 2930/40 is cleared convincingly.
Support for silver @2810/2780/2760
Have a great trading day
Love and Regards
Gold Spot resistance levels @ 1597/1604. Near term looking in correction mode. Major resistance @1628/30 levels. Convincing close above this level will take to 1665/70. Support for Gold (Spot) is 1584/77.
Major trend remains bearish unless it closes above 1630/35
Near term looking in correction mode, can go up to 1625/28 unless it doesn't closes below 1555
Silver Spot resistance around 2930/2955
Silver looks a buy around 2865/50 with a closing stop of 2760 for target of 3020/60 (but needs patience) .
Can see major short covering once 2930/40 is cleared convincingly.
Support for silver @2810/2780/2760
Have a great trading day
Love and Regards
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