Gold hit my target and made a high for the week exactly at strong resistance at 4290/4305, reversing from 4302.
I projected that we could fall as far as first support at 4240/4230.
Longs worked perfectly with a bounce from 4230 to 4275 on the 1st bounce, and an afternoon retest saw a bounce from 4223 to an over night high at 4261 (as I write).
Again today, longs need stops below 4220.
Of course the direction of Gold & silver today will be determined by the US Non Farm Payroll release.
A break lower targets support at 4195, perhaps as far as strong support at 4170/4160.
Longs need stops below 4145. Just be aware that a break lower can target 4130/4120.
A retest of strong resistance at 4290/4305 gives us another sell opportunity but shorts need stops above 4315.
A break higher is another buy signal for today & we could see further quick gains towards strong 5 month trend line resistance at 4355/4360.
Shorts need stops above 4375.
