Gold and Silver on 7-Feb-2011 (Mon)

Gold

I wouldn't know whether this is my personal bias or because I missed the entry...
but I would still prefer Gold continue to come down to 1294 before going up higher.

Gold has break above flag formation on Thursday and close at 1348 on Friday.  Coming week, Gold may continue to come up to 1365, this is the point where I reckon the market reversal to happen.

If Gold shows reversal at 1365, I will observe for short and my target exit at 1294.
If not, then 1307 (28/1) would be the lowest price we can get from Gold.

Aggressive Long can plant at 1344 SL 1338 TG 1365.
Observe for short opportunity at 1365 for the week.


Silver

Coming week, reckon silver to face resistance at 29.45-29.55.
Support 28.85 and 28.00.
No recommendation to trade.