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Analytics Analysis of metals

Gold and Silver Technical Outlook September 26, 2016

26 September 2016
GOLD (XAUUSD)

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XAU/USD continued to form a correction and there is a probability of changing the current tendency. The price is below the MA55 and the MA-channel accelerates its reverse. If we look at Silver, the correction may be rather deep and the tendency may also be changed. XAU/USD is close to the trend line on the Weekly chart. If the price breaks it through, there is a probability of further upside trend.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. There was a decline according to the technical analysis last week. We expect the price to bounce off the trendline this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is below the MA55 balance line. It is recommended to avoid trading today.



SILVER (XAGUSD)

26_09_2016_silver.jpg

XAG/USD failed to break through the trendline on the Weekly chart. There is a probability, that the price is going back towards this line. Long trades from the MA55 balance line gave no profit as there was a change in tendency. We expect the downtrend to continue today.

There is the uptrend on the Weekly chart as the price is above the MA55 balance line. We expect the price to be within a range this week.

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.

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