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Analytics Analysis of metals

Gold/Silver Outlook June 20,2016

20 June 2016
GOLD (XAUUSD)

20_06_2016_gold.jpg

The gold price is still under pressure after the tragic event in the Great Britain on the eve of the Referendum. Eventual “Brexit” is the key subject of the week. The Referendum takes place on Thursday. All other events and statistics will be sidelined.

The Weekly chart shows the uptrend as the price is above the MA55. At the moment the downside move is possible as the trend line is broken

As for the Hourly chart, the price is in flat as the MA-channel shows no direction although the price is below the MA55. Short positions are possible after the price passes 1277,00.


SILVER (XAGUSD)

20_06_2016_silver.jpg

The price on Silver is also in flat. However, it may go down following gold prices.

The Weekly chart shows the uptrend as the price is above the MA55. There is a doji on the Weekly indicating the probability of a reverse. We expect downside fluctuations this week.

As for the Hourly chart, the price goes flat as the MA-channel moves with no trend although the price is below the MA55. The trendline still holds it positions and the downtrend may be limited by this line.

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