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

Gold/Silver Technical Outlook August 23, 2016

23 August 2016
GOLD (XAUUSD)

23_08_2016_gold.jpg

There was an opportunity to open short trades from 1338,00 with stop above the MA55. You may try to protect your positions soon, moving stops to a breakeven level. If XAU/USD continues to decline today, you may get some good profit. There is also a probability, that the price will trade into a range before the Fed Head’s Yellen speech during Jackson Hole Symposium.

There is the uptrend on the Weekly chart as the price is above the MA55. Another attempt to break through the trendline failed and XAU/USD may decline.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. We advise to hold short trades from 1338,00. There is another opportunity to sell from 1338,00.



SILVER (XAGUSD)

23_08_2016_silver.jpg

XAG/USD traded in a tight range approaching the balance line. The price may go back to 19,50 and resume its decline then. Anyway, it is better to avoid trading at the moment.

There is the uptrend on the Weekly chart as the price is above the MA55. Silver went down to the lower side of the 19,30-20,40 area and crossed it today in the morning.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. The price is still far from the balance line and we advise to avoid trading.

Back to analytics