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Analytics Analysis of metals

Gold and Silver Technical Outlook January 13, 2017

13 January 2017

GOLD (XAUUSD)

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Gold established new weekly highs but there was no opportunity to open trades. The price was far from the balance line. It is to mention that the price moved downwards sharply yesterday during the American session. Market participants were fixing their long positions. It is not suitable for further growth and today’s US Retail Sales and PPI data may completely change the situation.

Experts expect those figures to be better than previous ones and this may push USD higher. It is risky to open trades in this environment.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction last week and we think XAU/USD is going to grow in the nearest future.

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 still unclear.

SILVER (XAGUSD)

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There was no opportunity to open trades from the tendline and the price approached to this line today in the morning. However, we see some signs of further reverse and the trendline may be broken through today. We advise to open trades if only the price breaks through the trendline with low volumes.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We have seen some correctional growth last week and we think it is going to continue in the nearest future.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You may try short trades if the price breaks through the trendline. Place stop losses above the line.


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