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Analytics Analysis of metals

Gold and Silver Technical Outlook December 30, 2016

30 December 2016

GOLD (XAUUSD)

30_12_2016_gold.jpg

XAU/USD continued its growth according to our expectations. We gave no recommendations as risks are still too high. Liquidity is low and there is a probability of surprises. Positions are under correction by the end of the year.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. XAU/USD failed to reach 1100,00 and we think it is going to touch the level this week.

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 situations is unclear and due to the low liquidity.

SILVER (XAGUSD)

30_12_2016_silver.jpg

Silver fails to grow above 16,24. The uptrend is stable but we think that that market participants will wait until the end of the holidays before taking any further actions. We advise to do nothing today as the liquidity is low.

There is no tend on the Weekly chart as the price is close to the MA55 balance line. Negative dynamics was developing last week and we think that XAG/USD is going to decline this week.

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 and the liquidity is low.


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