Forex trading! S: support.adamantfinance M: info@adamantfinace.com Registration
Analytics Analysis of metals

Gold and Silver Technical Outlook December 21, 2017

21 December 2017
21_12_2017_gold.jpg
Gold developed its upside tendency but its growth was limited as Christmas holidays approach. The amendments to the tax legislation was adopted completely and now Trump has to sign it. This is the first significant victory of the current US President, but investors seems to pay less attention to this event. The majority of market participants are looking forward to start their holidays and the liquidity is low.
There is no trend on the Weekly chart as the price is close to the MA55 balance line. Gold declined last week according to our expectations and then went upwards. WE think that XAU/USD is likely to develop its downside tendency in the next couple of days.
There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear.
21_12_2017_silver.jpg
Silver established a tight upside channel and we think that XAG/USD is likely to develop this pattern in the nearest future. The volumes are low and the price is likely to stay within the range. We give no recommendations today as the volatility is low and is going to decrease again on the eve of Christmas holidays.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Silver failed to decline last week frustrating our expectations. We think that XAG/USD is likely to resume its downside tendency in the next couple of days.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. We advise to avoid trading today as the situation is unclear.


Back to analytics