Gold - heading higher
Gold is pushing higher and is expected to break the 1'345 resistance point (15/01/2018 high). Hourly support is maintained at 1'306 (04/01/2018 low). The commodity is targeting a strong resistance point at 1357 (08/09/2017 high).
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary in order to confirm it. A major support can be found at 1045 (05/02/2010 low).
Silver - bouncing
Silver is continuing its bounce moves to slightly higher ends after a sharp correction (12/08/2017 low at 15.61). The short-term technical structure is negative as long as prices remain below the hourly resistance at 17.43 (15/01/2018 high). A key resistance stands at 18.21 (08/09/2017 high). Hourly support at 16.80 is broken. New support point is at 16.75 (23/01/2018 low).
In the long-term, the trend is rather negative. Further downside is very likely. The pair is trading at its 200 DMA. Resistance is located at 21.58 (10/07/2014 high). Strong support can be found at 11.75 (20/04/2009).
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