Gold

Mid-day report

The metal succeeded to breach the lower line of our defined bearish continuation [Flag] pattern , activating the bigger picture of the previous explained [Head and shoulders] pattern which is targeting 896.00-900.00 on the short term basis. A very slight correction is needed to relieve Stochastic , perhaps will be limited around 927.00 -the broken support areas turned into resistance- before resuming the negative scenario.

The trading range for today is among the key support now at 907.00 and key resistance now at 963.00.

The general trend is to the upside as far as 820.00 remains intact with targets at 1035.00 and 1060.00.

Support922.00916.00912.00907.00900.00
Resistance927.00930.00935.00945.00952.00
RecommendationOur morning position is still in progress.

Silver

Mid-day report

Silver has penetrated the pivotal support areas of our detected trading range areas, respecting the projected bearishness which is forming the CD leg of the duplicated harmonic pattern. A slight upside correction is needed before resuming the negative scenario which has eventual downside targets to be reached at 13.60 and 12.84 later.

The trading range for today is among the key support at 13.25 and key resistance now at 15.15.

The general trend is to the upside as far as 10.95 remains intact with targets at 16.85.

Support13.7413.6013.5513.4313.35
Resistance13.9414.0614.1514.2514.32
RecommendationOur morning position is still in progress.