Gold Increasing
Gold is trading higher following yesterday's sideways trading. Hourly support at 1,331 (23/01/2018 low) is now broken and further support remains at 1'323 (12/01/2018 low). The technical structure suggests further short-term 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 bouncing upward
Silver is bouncing up but trades below 17. The short-term technical structure is turning negative. Hourly resistance lies at 18.21 (08/09/2017 high). The technical structure suggests further short-term increase.
In the long-term, the trend remains negative/ sideways. Further downside is very likely. The pair is trading slightly above 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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