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Analytics Analysis of metals

Gold and Silver Technical Outlook December 22, 2017

22 December 2017
22_12_2017_gold.jpg
Gold fluctuated in a wide range yesterday as the Christmas holidays approach and the volatility is low. The markets will be closed on Monday as the whole World will celebrate the Catholic Christmas. The activity yesterday was low and we think that there is no reason to wait for the volatility to increase today.
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. 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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.
22_12_2017_silver.jpg
Silver fluctuated within a limited range yesterday. We think that the volatility may increase on Tuesday or even on Wednesday. There is no reason to open trades today.

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 close to the MA55 balance line. We advise to avoid trading today as the situation is unclear.


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