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

Gold/Silver Technical Outlook July 20, 2016

20 July 2016
GOLD (XAUUSD)

20_07_2016_gold.jpg

XAU/USD continues to form a triangle. This pattern may testify a consolidation. We recommended short positions. However, those trades failed to open as there was no breakthrough of the triangle. No there is a neutral trend in a range.

The Weekly chart shows the uptrend as the price is above the MA55. XAU/USD made a fake breakthrough of the descending trendline and may continue to decline.

There is no trend on the Hourly chart as the MA-channel is horizontal and the price is close to the MA55. We expect downside tendency, although the trend is still not determined. You may place short orders in the 1323,00 area.



SILVER (XAGUSD)

20_07_2016_silver.jpg

XAG/USD reached the short order level. However, there was no downside moves. The price was within the Monday’s range. We think that there is a long trades accumulation in this area. They may provoke an upside momentum in the nearest future. The situation is unclear.

There is the uptrend on the Weekly chart as the price is above the MA55. XAG/USD growth to a new resistance at 25,00 is postponed.

There is the downtrend on the Hourly chart as the MA-channel goes downwards and the price is below the MA55. We expect the downside tendency to develop. However, if you place an order here, you will trade against the trend. We recommend placing long orders to the 20,10 area.

Back to analytics