Forex trading! S: support.adamantfinance M: info@adamantfinace.com Registration
Analytics Analysis of metals

Gold and Silver Technical Outlook January 8, 2017

08 January 2018
08_01_2018_gold.jpg
Gold developed its upside tendency on Friday and we think that XAU/USD will continue to grow in the nearest future. Friday’s US Labor Market data had no surprises. The Average Hourly Earnings data reached 0,3% which shows that this indicator accelerates. This is the first sign of further inflation growth and USD has stopped its decline. There is no important data from the United States today.
There is the uptrend on the Weekly chart as the price is above the MA55 balance line. Gold went upwards last week according to our expectations. We think that XAU/USD is likely to go upwards and the next couple of days.
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.
08_01_2018_silver.jpg
Silver fluctuated with less activity but it still continues its moderate growth. XAG/USD is close to its strong resistance level and if it crosses this line, the price will accelerate its growth. This resistance level is at 17,35/40.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. Silver went upwards last week according to our expectations. We think that XAG/USD is likely to develop its upside tendency in the next couple of days.

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.


Back to analytics