Gold Price (XAUUSD) Storm Or Surrender!? Silver Price (XAGUSD)...

"Global Steel Output Rises as Chinese Production Surges, Copper Market Remains in Deficit

Gold Spot we wrote: outlook remains negative despite some stability yesterday.

Gold lower yesterday as expected as we test best support for this week at 1879/75. Longs need stops below 1870.

Read next: Meme coins: (SHIB) What Is Shiba Inu Token? Shiba Inu Coin Price. What Makes This Altcoin So Special? Clever Methods Used To Give High Crypto Returns | FXMAG.COM

Silver we wrote: holding first resistance at 2380/90 for a sell signal targeting 2340/35 & minor trend line support at 2300/2295.

Update daily by 05:00 GMT

Today's Analysis.

Gold hit all downside targets as far as best support for this week at 1879/75. Longs need stops below 1870. A break lower is an important medium term sell signal initially targeting 1955/53, 1850 & 1844/42, perhaps as far as strong support at 1838/35.

Longs at 1879/75 target 1890 & 1906/09. If we continue higher look for resistance at 1920/25.

Silver holding first resistance at 2380/90 for a sell signal targeting 2340/35 (hit) & minor trend line support at 2300/2295. A low for the day is certainly possible today. Longs need stops below 2290. A break lower is another important sell signal with a 100 tick drop possible.

Shorts at first resistance at 2380/90 stop above 2410. An unexpected break higher is a buy signal targeting 2440/50.

To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk

"Global Steel Output Rises as Chinese Production Surges, Copper Market Remains in Deficit

Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk