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Analytics Analysis of metals

Gold and Silver Technical Outlook January 27, 2017

27 January 2017

GOLD (XAUUSD)

27_01_2017_gold.jpg

Gold reversed downwards and crossed the trendline indicating the future bias of fluctuations. There is a possibility to open short trades from the MA55 balance line area today but risks are still too high. We think 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 think it is going to continue in the next couple of days.

There is the downtrend on the Hourly chart as the MA-channel looks 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 this curve.

SILVER (XAGUSD)

27_01_2017_silver.jpg

Silver crossed the ascending trendline on the Hourly chart and has the intention to continue its decline. We can see the downtrend and we think it is a good idea to look for short trades at the moment.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. There was a correction growth last week and w 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. Place stop losses above the curve.


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