Gold & silver commodities outlook
Jason Sen of - - Fri Dec 07, 1:55AM CST
Gold has been hovering around 1236/38 in a relatively quiet week. Watch for a break above 1243.

Silver topped less than 4 points from our selling opportunity at 1470/80 this week.

Gold break above 1243 is a buy signal targeting 1248/49 & 1254/55 before strong resistance at 1258/60.
Minor support at 1236/35 but below here risks a slide to 1231/30, perhaps as far as 1228/27. Try longs at 1225/24 with stops below 1221.

Silver selling opportunity at 1470/80 is the most important level of the day, (stops above 1490). A break higher however is a buy signal targeting 1520/30.
Failure to beat 1470/80 targets 1445 & good support at 1435/30. (We bottomed exactly here). Below 1420 however risks a retest of the September/October low at 1390/85.