Gold could encounter strong resistance at $ 1786/89

• Gold spot hit the target of 1766/64 but not quite as far as 1758/56.

• Silver breaks strong support for a sell signal – holding below 2290/2300 is a crucial sell signal initially targeting 2230 and 2200.

• WTI futures broke critical support at 6460/30 but bounced from 6243.

Gold outlook is negative, so gains are likely limited with first resistance at 1778/80. Strong resistance at 1786/89. Shorts need stops above 1792.

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