GOLD
Gold fluctuated in a tight range yesterday affected by the major resistance level at 926.24 and the strong support level at 911.62. Nevertheless, gold managed to end the day with a positive pattern after closing above the opening level and for that we expect the upside move for today targeting 930.00 resistance level.
The trading range for today might be among the key resistance level at 945.00 and the key support at 900.00.
The general trend is to the upside as far as 810.00 remains intact, targets now are at 1080.00 and 1170.00.
| Support | 918.50 | 914.10 | 909.65 | 905.00 | 900.70 |
| Resistance | 926.20 | 929.00 | 935.45 | 938.50 | 942.30 |
Recommendation | ... | ||||
SILVER
Silver traded to the upside reaching the 18.00 levels acquiring back its previous two-day losses providing upside potential still for today though it is expected for silver to decline to the major support level at 17.50 before inclining back to 18.00 levels.
The trading range for today might be among the key resistance level at 18.20 and the key support at 17.40.
The general trend is to the upside as far as 13.20 remains intact, targets now are at 22.00 and 25.00.
| Support | 17.48 | 17.27 | 17.04 | 16.85 | 16.67 |
| Resistance | 17.80 | 18.06 | 18.22 | 18.50 | 18.83 |
Recommendation | We expect buying Silver above 17.45 with targets at 17.97, stop loss below 17.15 | ||||