Midday Report
Gold declined slightly, but it is still stable above 1735.00, supporting our morning expectations to remain valid. The mentioned level represents the previously breached resistance of the downside movement, where consolidation above this level could support the metal to form a bullish technical structure. Despite the negativity seen on Stochastic, MACD supports our positive expectations.
The trading range for today is among the key support at 1705.00 and key resistance now at 1772.00.
The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.
| Support | 1735.00 | 1724.00 | 1718.00 | 1711.00 | 1706.00 |
| Resistance | 1742.00 | 1750.00 | 1754.00 | 1763.00 | 1768.00 |
| Recommendation | Our morning expectations remain valid | ||||
Silver
Midday Report
The metal declined affected by the negativity seen on momentum indicators. But, consolidation above the support level of the sideway range at 33.40 is positive, while stability above 33.00 supports the bullish technical structure to remain valid over intraday basis. Therefore, our morning expectations remain valid.
The trading range for today is among the key support at 31.00 and key resistance now at 35.70.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
***New York Candlesticks***
| Support | 33.40 | 33.20 | 33.00 | 32.80 | 32.45 |
| Resistance | 34.00 | 34.25 | 34.40 | 34.65 | 35.10 |
| Recommendation | Our morning expectations remain valid | ||||
To ensure you receive such e-mails in the future, please add ecPulse.com to your list of approved senders.
No comments:
Post a Comment