Gold

Mid-day report

According to the projected scenario, gold declined slightly affected by the strength appeared on the Greenback, activating the light negative divergence appeared on RSI. Now the bullishness will come back into focus targeting the previous mentioned D target of the harmonic crab pattern which is valued at 997.00 zones. Therefore we will keep our outlook to the upside as far as 969.00 remains unbroken.

The trading range for today is among the key support now at 956.00 and key resistance now at 1015.00.

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

Support976.00972.00965.00956.00952.00
Resistance984.00987.00992.00996.001000.00
RecommendationOur morning position is still in progress.

Silver

Silver also activated the expected slight correction that helped the indicators to be relieved. Now the positive scenario will be in focus as a normal technical result for the hammer candlestick pattern which has formed on the hourly chart as seen on the secondary image. Note that a new breakout above the psychological level of 16.00 will accelerate this highly anticipated bullishness.

The trading range for today is among the key support at 15.25 and key resistance now at 16.85.

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

Support15.8515.7715.6415.5315.40
Resistance16.0016.1016.2516.3316.45
RecommendationOur morning position is still in progress.