GOLD (in USD) Slight decline
Gold is slightly decreasing following recent rise at 1357, heading along the 1350 range. Hourly support and resistance are given at 1300 (29/12/2017 low) and 1366 (25/01/2018 high). The technical structure suggests short-term downward 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 (in USD) Edging higher
Silver bullish trend continues, currently given 16.715 and expected to head along the 16.80 range. Silver is currently contained between hourly support and resistance given at 16.03 (18/12/2017 low) and 16.98 (15/02/2018 high). The short-term technical structure suggests fruther short-term rising moves.
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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