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

Gold and Silver Technical Outlook November 18, 2016

18 November 2016

GOLD (XAUUSD)

18_11_2016_gold.jpg

XAU/USD failed to correct to 1250-60,00 and continued to decline. Yesterday’s US inflation data was better than expected and Interest Rates hike odds increased to 91%. Yesterday’s decision to avoid sells was right. The price is close to the lower side of the MA-channel and it is risky to enter the market.

There is no trend on the Weekly chart as the price is close to the MA55 balance line. XAU/USD established a tendency last week. We still expect it to correct towards 1250-60,00 and then to resume its decline.

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 avoid trading today.

SILVER (XAGUSD)

18_11_2016_silver.jpg

Silver failed to correct towards 17,90-18,00 and resumed its downside tendency. There was no opportunity to open long trades. Today it is too risky to trade as the price is close to the lower side of the MA-channel.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. The trendline was broken through and we think XAG/USD is going to change its tendency in the nearest future. We expect Silver to correct upwards and then to resume its decline.

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 avoid trading today.


Back to analytics