Gold - continued decline
Gold is now edging lower after strong collapse. The technical structure confirms a further consolidation phase. Support given at 1251 (08/08/2017 high) has been broken. Resistance is located at 1288 (20/10/2017).
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).
Silver - bouncing on support
Silver has been bouncing on hourly support at 15.61 (14/07/2017 low). Hourly resistance is given at 17.46 (13/10/2017 high). Expected to keep pushing lower.
In the long-term, the trend is rater negative. Further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).
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