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Analytics Analysis of metals

Gold/Silver Technical Outlook July 1, 2016

01 July 2016
GOLD (XAUUSD)

01_07_2016_gold.jpg

Gold smoothly grew yesterday marking the uptrend. XAU/USD price should correlate with silver but we see the other situation. Investors rush on the market trying to find Assets and gold is not in demand, which is surprising.

The Weekly chart shows the uptrend as the price is above the MA55. The probability of the breakthrough of 1350,00 is lower this week.

The Hourly chart shows the uptrend as the price is above the MA55 and the MA-channel looks upwards. You may try long trades from the MA55 area.


SILVER (XAGUSD)

01_07_2016_silver.jpg

Silver was able to cross important 18,50 level and went higher. The resistance area is too wide and the price may still find some reversal point. It is risky to open trades now as the price is close the upper side of the MA-channel.

The Weekly chart shows the uptrend as the price is above the MA55. It goes towards the resistance level at 19,50.

The Hourly chart shows the uptrend as the MA-channel goes upwards and the price is above the MA55. We advise to observe the market today.

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