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Analytics Analysis of metals

Gold and Silver Technical Outlook December 27, 2016

27 December 2016

GOLD (XAUUSD)

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Gold traders are back after long holidays, but dynamics is still very weak. The main reason for this is the fact that most of market participants are still on holidays. Many of them will not open trades before 2017. We do not expect any significant fluctuations this week. We advise to do nothing today.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. Gold failed to reach 1100,00 level but we think that it is going to do it this week.

There is no trend on the Hourly chart as the MA-channel is neutral and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is still unclear and the volumes are very low.

SILVER (XAGUSD)

27_12_2016_silver.jpg

Silver is trading within a range but as we can see it on the chart, Bears are still dominating. We think that XAG/USD is going to establish new lows from April 2016 this week. However, most of market participants are on holiday at the moment and the volumes are low.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD showed negative dynamics last week and we think that it is going to decline this week.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is close to the MA55 balance line. We advise to avoid trading today as the situation is unclear and the volumes are low.


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