Gold - Bullish trend maintained
Gold is bouncing back to 1360 after failing to reach hourly resistance at 1366 (25/01/2018 high). Hourly supports given at 1306 (04/01/2018 low) and 1290 (16/10/2017) remain. The technical structure suggests further upside moves.
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1'392 (17/03/2014) is required to confirm it. A major support can be found at 1'045 (05/02/2010 low).
Silver - Bearish breakout
Silver is heading lower following recent sideways trading. Silver lies between hourly resistance and support at 17.07 (09/11/2018 high) and 16.03 (05/12/2017 low). The technical structure suggests further short-term weakness.
In the long-term, the trend remains negative/ sideways. Further downside is very likely. The pair is trading below 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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