GOLD (in USD) Heading higher
Gold bounces back following recent decrease at the 1323 range, currently trading between hourly support and resistance at 1300 (29/12/2017 low) and 1338 (19/01/2018 high). The short-term technical structure suggests further rise.
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 (in USD) Attempting a recovery phase
Silver rises back after recent decline at16.36, heading for the 16.60 range. Silver is contained between hourly support and resistance given at 16.25 (01/12/2017 low) and 16.83 (28/12/2017 high). The short-term technical structure suggests further increase.
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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