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Analytics Analysis of metals

Gold and Silver Technical Outlook January 26, 2017

26 January 2017

GOLD (XAUUSD)

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Gold had changed it tendency and broke through the trend line indicating the probability of further decline. You may try to open short trades today from the Ma55 balance line. However, the chances are few that the price is going back to the balance line. We think that there is a high probability that Gold is going to continue its decline from the current level.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was a correction growth last week and we thin XAU/USD is going to continue its upside tendency in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the Ma55 balance line. We advise to open short trades from the MA55 balance line. Place stop losses above the curve.

SILVER (XAGUSD)

26_01_2017_silver.jpg

Silver crossed the ascending trend line on the Hourly chart and it is likely to decline. We think that the current tendency looks downwards and it is time to look for short trades.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. We had a correction growth last week and we think it is going to continue in the nearest future.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55 balance line. We advise to open short trades from the MA55 balance line today. Place stop losses above the indicator.


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