Midday Report
Gold's momentum started to weaken affected by the negative crossover seen on Stochastic, which occurred near the critical resistance at 1763.00. Any trading below the mentioned resistance should support our morning expectations to remain valid for the rest of the session.
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 | 1750.00 | 1742.00 | 1735.00 | 1724.00 | 1718.00 |
| Resistance | 1763.00 | 1768.00 | 1772.00 | 1780.00 | 1794.00 |
| Recommendation | Our morning expectations remain valid | ||||
Silver
Midday Report
Silver reversed to the downside again, reaching areas around the previously breached resistance level of 34.40, while Stochastic is currently negative. Therefore, our morning expectations remain valid, noting that consolidation below 34.65 is necessary for our expectations to prevail.
The trading range for today is among the key support at 32.80 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 | 34.00 | 33.75 | 33.40 | 33.20 | 33.00 |
| Resistance | 34.25 | 34.40 | 34.65 | 35.10 | 35.70 |
| Recommendation | Our morning expectations remain valid | ||||
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