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Analytics Analysis of metals

Gold and Silver Technical Outlook January 17, 2017

17 January 2017

GOLD (XAUUSD)

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Gold was trading within a limited range due to the US holidays yesterday. We think that dynamics is going to restore today. There was no opportunity to open long trades as the price was far from the trend line. There is still neutral trend and we expect XAU/USD to establish a tendency today. There are clear signs that Gold is going to continue its uptrend.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. The currency pair had a correctional growth last week and we think it is going to continue its growth in the next couple of days.

There is the downtrend on the Weekly chart as the price is below the Moving Average 55. We have seen a correctional growth last week and we expect XAU/USD to continue its upside tendency 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 open long trades from the trendline on the Hourly chart if the price goes back there. Place stop losses below the line.

SILVER (XAGUSD)

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Silver was trading within a limited range yesterday due to the US holiday. There was no opportunity to open long trades as the price did not reach the trendline. There is no clear tendency and we think that XAG/USD is going to establish a trend today.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAG/USD had a correctional growth according to our expectations. We think that this growth is going to continue.

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 open long trades from the trendline on the Hourly chart is the price goes back there. Place stop losses below the line.


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