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Analytics Analysis of metals

Gold and Silver Outlook June 16, 2016

16 June 2016
GOLD (XAUUSD)

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The uptrend in Gold prices resumed after the FOMC members had decided to postpone the rise of interest rates due to the upcoming “Brexit” Referendum. FOMC members noticed that this event applied to certain risks. It means that the non-risky assets such as Gold “got the opportunity” for further growth. There was a significant resistance at 1300-1305,00. However, the price passed it without hesitations. There are no correction signs in the nearest future.

The Weekly chart shows the uptrend as the price is above the MA55. The growth may go on targeting the broken trend line.

The Hourly chart shows the uptrend as well. The price is above the MA55 and the MA-channel looks upwards. The speed of the growth increased yesterday after the FOMC meetings. I recommend long trades through corrections.


SILVER (XAGUSD)

16_06_2016_silver.jpg

XAG/USD resumed the growth targeting the 18,00 level. This area is the resistance from January 1, 2016.

The Weekly chart shows the uptrend as the price is above the MA55. There is still potential for further growth through a correction.

The Hourly chart shows the uptrend as the price is above the MA55. The MA-channel goes upwards as well. I recommend opening long trades through corrections targeting the 18,00 level.

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