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Trading Summary - Gold & Silver



We take a look back at our trading recommendations and past analysis as we felt it can give our readers a sense of how gold prices have moved throughout the month of January. A quick reflection may paint some clues as to where prices may be heading in February. Several things to take into consideration in February – Chinese New Year celebration could affect physical demand thus prices in the global market, a rather large long positions among hedge funds in the month of January could instigate some major movement, further currencies devaluation which could support physical prices and last but not least the constant raging equity market could be in for a surprise move?

Trade Summary - Gold

Instruments

Date

Entry Price

Target Price

Stop Loss

Results

Total Pips

XAU

5th January

1209

1218 & 1239

1199

+ 39

+ 39

XAU

19th January

1296

1266 & 1255

1308

+ 71

+ 110

XAU

28th January

1296

1245

1296

Date: 5th January

Trade: Buy on the break of $ 1209 with a stop loss at $ 1199 to target $ 1218 and then $ 1239 area (valid only for this week)



Date: 19th January

Trade: Buy on the break of $ 1209 with a stop loss at $ 1199 to target $ 1218 and then $ 1239 area (valid only for this week). The trade recommendation stayed valid and as we all know it, gold hit through all resistance and the buy kick us off in a profitable 2015. With psychological resistance at $ 1300 and then $ 1320 area (downtrend line) we would favour shorting the yellow metal as it will look to pullback to retest previous resistance now support. Short the yellow metal between $ 1282 – $ 1298 area to target $ 1266, $ 1255 and $ 1245.



Date: 28th January

Trade: With psychological resistance at $ 1300 and then $ 1320 area (downtrend line) we would favour shorting the yellow metal as it will look to pullback to retest previous resistance now support. Short the yellow metal between $ 1282 – $ 1298 area to target $ 1266, $ 1255 and $ 1245. Continue holding short with the above target and stop loss at $ 1308 at the moment.



Trade Summary – Silver

Instruments

Date

Entry Price

Target Price

Stop Loss

Results

Total Pips

XAG



Date: 5th January

Trade: Resistance stands at $ 16.43 and a downside biased remains but we will not discount that short term upside is possible but limited. RSI is not overbought but near strong resistance at 50.00 index level. Therefore, no good setup so best on the sideline.



Date: 19th January

Trade: Silver continue to remain as a hard commodity to trade but the outbreak above the long term down trend line has certainly changed the overall landscape. Silver could surprise us more and any reversals remain in doubt given its volatile nature.



Date: 28th January

Trade: Trade only valid this week to short Silver should it retest $ 18.40 with a stop loss at $ 18.60 to target $ 18.05 then $ 17.55 area.



This article is written according to the author’s views and by no means indicates investment purpose. Opinions expressed at Sharps Pixley Ltd are those of the individual authors and do not necessarily represent the opinion of Sharps Pixley Ltd or its management, shareholders, affiliates and subsidiaries. Sharps Pixley Ltd has not verified the accuracy of any claim or statement made by any independent writer and is reserved as their own and Sharps Pixley Ltd is not accountable for their input. Any opinions, research, analysis, prices or other information contained on this website, by Sharps Pixley Ltd, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Sharps Pixley Ltd will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The data contained on this website is not necessarily real-time or accurate. 

03 Feb 2015 | Categories: Gold, Silver

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