Gold
Midday Report
Gold is struggling around 38.2% Fibonacci level for the suggested third internal wave, while (Stochastic) is entering overbought areas as seen on the provided four-hour chart. Therefore, we hold on to our morning expectation, waiting for a completion for the first corrective wave "A" of our proposed Elliott count.
The trading range for today is among the key support at 1075.00 and key resistance now at 1137.00.
The general trend is to the upside as far as 865.00 remains intact with targets at 1249.00.
Weekly Report Morning Report
| Support | 1111.00 | 1109.00 | 1107.00 | 1102.00 | 1098.00 |
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| Resistance | 1120.00 | 1122.00 | 1125.00 | 1127.00 | 1132.00 |
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| Recommendation | Our morning expectations remain valid |
Silver
Midday Report
Silver didn't show big moves since morning and it is not able to maintain levels of 17.35 while AROON indicator is still stable, attempting to hit the value of 70.00 downwards. Consequently, possible bearishness could be witnessed for the rest of the day as far as 17.70 remains intact.
The trading range for today is among the key support at 16.55 and key resistance now at 17.60.
The general trend is to the upside as far as 12.45 remains intact with targets at 20.15.
Weekly Report Morning Report
| Support | 17.25 | 17.18 | 17.05 | 17.00 | 16.95 |
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| Resistance | 17.35 | 17.40 | 17.44 | 17.55 | 17.65 |
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| Recommendation | Our morning expectations remain valid |