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Analytics Analysis of metals

Gold and Silver Technical Outlook June 10, 2016

10 June 2016
GOLD (XAUUSD)

10_06_2016_gold.jpg

The descending line on the Hourly chart (XAU/USD) was broken and we may testify growth resumption. However, this rise is not so active as previously. We suppose that the XAU/USD growth this week has ended and it is time to close all trades.

Weekly chart shows the uptrend, the price is above MA55. There is a high probability of growth back to the broken trendline.

As for the Hourly chart, here we may see the uptrend as the price is higher than MA55. MA-channel goes upwards. The speed of growth slows down and a correction is possible. We recommend fixing the rest of your trades.


SILVER (XAGUSD)

10_06_2016_silver.jpg

The price for silver is growing as well. However, the rise is not as aggressive as in XAU/USD, the correction is probable. You may still hold your long trades expecting that the uptrend will go on and fix them when the price gets MA55 on the Hourly chart. Nevertheless, you risk to lose a part of your profit.

Weekly chart shows the uptrend as the price is above MA55. The price has touched the red trendline and resumed growth.

Hourly chart shows the uptrend as the price is still higher than MA55. MA-channel moves upwards. The speed of growth slows down. This may result in correction. We recommend fixing the rest of your trades.

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