Gold in USD) Approaching 1310
Gold is trading lower following recent rise at 1319, heading along the 1310 range. Hourly support and resistance are given at 1300 (29/12/2017 low) and 1329 (08/03/2018 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) Ready for another leg lower
Silver is decreasing following recent rise at 16.58, heading along the 16.45 range. Hourly support and resistance are given at 16.03 (05/12/2017 low) and 16.87 (06/03/2018 high). The technical structure suggests short-term decrease.
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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