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

Gold/Silver Technical Outlook July 13, 2016

13 July 2016
GOLD (XAUUSD)

13_07_2016_gold.jpg

XAU/USD made a fake breakthrough of the trendline on the Weekly chart unfortunately. All long trades lead to losses. The downtrend was gaining momentum which resulted in the cross of the trendline on the Hourly chart.

There is the uptrend on the Weekly chart as the price is above the MA55. Gold made a fake breakthrough of the descending trendline.

As for the Hourly chart there is the downtrend here as the MA-channel goes downwards and the price is below the MA55. It is risky to open short trades today as the price is close to the lower side of the MA range.



SILVER (XAGUSD)

13_07_2016_silver.jpg

XAG/USD holds the uptrend targeting 25,00. The price fluctuates within a triangle and we expect that it may go upwards later. Yesterday’s long trades were profitable. You could protect your positions at the breakeven level.

There is the uptrend on the Weekly chart as the price is above the MA55. Silver goes to a new resistance level at 25,00 and may reach it in the nearest future.

As for the Hourly chart, there is the uptrend here as well as the MA-channel goes upwards and the price is above the MA55. It the price breaks through 20,50, you may try long trades targeting 21,50, 22,30 placing stops below the trendline.

Back to analytics