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Analytics Analysis of metals

Gold and Silver Technical Outlook December 28, 2016

28 December 2016

GOLD (XAUUSD)

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Gold reached 1150,00 yesterday and lost almost all positions it gained. I think that today XAU/USD will fail to move higher than 1145,00 despite the fact that there is the uptrend. We think that price is going to reverse towards 1125,00. We advise to do nothing today as the volumes are low.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. XAU/USD failed to reach 1100,00 last week but we think Gold is going to touch this level 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 volumes are low and the situations is unclear.

SILVER (XAGUSD)

28_12_2016_silver.jpg

Silver continues its range fluctuations trying to move higher. We think that XAG/USD is going to establish new highs this week. However, fluctuations are weak at the moment as most of market participants are on holidays.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was negative dynamics last week and we think that Silver is going to decline in the next couple of days.

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


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