Gold

Gold is moving slowly downwards, respecting the negative divergence which is appearing on the above four-hour chart. Further downside movements are expected for the rest of the day particularly if it succeeded to move freely below 972.00 zones. AROON up is still valued below 30.00 reviving our negative scenario.

The trading range for today is among the key support now at 948.00 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 .

Support972.00965.00960.00956.00952.00
Resistance980.00982.00987.00996.001000.00
RecommendationOur morning position is still in progress.

Silver

The obvious overbought signs which we mentioned in our morning report, forced the metal to move downwards while Parabolic SAR is still protecting this negative anticipation . Now additional downside action is still in favor as the candlestick structure is bearish and we expect that this action will be accelerated as soon as silver breaches the critical point at 15.58.

The trading range for today is among the key support at 14.85 and key resistance now at 16.55.

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

Support15.5815.5015.4315.3715.25
Resistance15.7415.8515.9216.0016.12
RecommendationOur morning position is still in progress.