Gold accelerated its growth on Friday and got closer to the resistance at 1350/60,00 on the Weekly chart. It was impossible to open long trades as the price did not approach close to the MA55. We expect that a tentative to break through the resistance will be taken this week or even today. We also expect a boom for precious metals and we advise to capitalise on it.
The Weekly chart shows the uptrend as the price is above the MA55. The probability of break through the resistance at 1350,00 is very high this week.
The Hourly chart shows the uptrend as the price is above the MA55 and the MA-channel goes upwards. It is risky to open trades as the price is still beyond the MA-channel. We expect a decrease in volatility in the second part of the day because of the Independence Day holiday in the USA.
Silver accelerated its growth after the breakthrough of the resistance at 18,50-19,50. The price is outside the MA-channel range. We recommend avoiding trading because of high risks.
The weekly chart shows the uptrend as the price is close to the MA55. XAG/USD goes towards new resistance at 25,00 and it may reach this level with high probability.
The Hourly chart shows the uptrend as the MA-channel goes upwards and the price is above the MA55. It is risky to open trades as the price is still beyond the MA-channel range.