Gold & Silver Spot Gold first support at 1222/21

Gold & Silver Spot Gold first support at 1222/21 in the sideways trend is now holding again but below here targets 1216/15 & 1211/10. Look for a buying opportunity at 1208/06, with stops below 1203.Holding first support at 1220/22 targets 1228/29. Above 1230 look for 1232/33 & strong resistance at 1236/38. Shorts need stops above 1243.

Silver again meets strong resistance at 1448/50 & the main challenge for bulls this morning. Shorts need stops above 1455. A break higher meets a selling opportunity at 1470/80, with stops above 1490.We bounced above key support at the September low at 1397/90 yesterday. A break lower targets very important 2.5 year trend line support at 1372/67. (Should be worth trying longs despite the bear trend).

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