Silver and Gold Charts Monday from Bill Downey

1 comment:

Louis Cypher said...

From Bill
In last nights website update gold resistance was listed at 1629-1634 and the high so far is 1628. Initial support was broken and 2nd tier support was listed at 1605-1611 and the low so far is 1607.

Trades Long 1 gold at 1583 -- taking profits here at market-current 1627-1628 spot or 1629-1630 October
Long 1 silvr at 3515 -- taking profits here at 39.75 market - current spot or 39.80 Sept Silver.

I save a sell in on gold now and a sell on silver to exit short term trades and take my profits. That doesnt mean we can't go higher but that I'm ready for profits. Again this is short term trades. If we close above 1633 I'll look to re-enter in gold and in silver if we close above 40.50 the same. It has to be closing prices however. I'll touch on it on tonights update or will email if things change.

Got to for more in depth analysis.