Morning Report
Gold fluctuates heavily within a narrow range since yesterday below EMA 20, but also above the resistance of the downside movement shown above. Therefore, the metal must breach one of the mentioned to confirm the pair's next move. We remain neutral now observing the pair's behavior around the critical support of 1639.00 and the resistance at 1656.00.
The trading range for today is among the key support at 1598.00 and key resistance now at 1694.00.
The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.
| Support | 1650.00 | 1638.00 | 1629.00 | 1624.00 | 1610.00 |
| Resistance | 1656.00 | 1662.00 | 1673.00 | 1681.00 | 1688.00 |
| Recommendation | Based on the charts and explanations above, we remain neutral awaiting more confirmations | ||||
Silver
Morning Report
Silver is trapped between the critical support and resistance levels at 31.75 and 32.85, while the sideways range continues to control the intraday trading. Therefore, we remain neutral now awaiting the metal to breach one of the mentioned levels for more confirmations regarding the next move.
The trading range for today is among the key support at 31.25 and key resistance now at 33.65.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
***New York Candlesticks***
| Support | 32.00 | 31.75 | 31.25 | 30.85 | 30.30 |
| Resistance | 32.45 | 32.85 | 33.00 | 33.15 | 33.40 |
| Recommendation | Based on the charts and explanations above, we remain neutral awaiting more confirmations | ||||
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