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Analytics Analysis of metals

Gold/Silver Technical Outlook July 5, 2016

05 July 2016
GOLD (XAUUSD)

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XAU/USD approached to the resistance level at 1350/60,00. However, after the momentum in the morning, the market activity decreased because of the national holiday in the USA. The price bounced to the MA55 in the morning, offering a good opportunity to open long trades as we have the uptrend. It is still time to buy as the price is close to the MA55.

The Weekly chart shows the uptrend as the price is above the MA55. There is a high probability of breakthrough of the resistance at 1350,00.

The Hourly chart shows the uptrend as the price is above the MA55 and the MA-channel goes upwards. We recommend buying from the MA55 area. Protect your positions below the MA55.



SILVER (XAGUSD)

05_07_2016_silver.jpg

XAG/USD’s activity went down yesterday although in the morning we had seen a good momentum. Today in the morning the price decreased and entered the MA-channel. There was a good opportunity to enter long trades from the MA55.

The Weekly chart shows the uptrend as the price is above the MA55. XAG/USD targets new resistance at 25,00 and may reach it with high probability.

The Hourly chart shows the uptrend as the MA-channel looks upwards and the price is above the MA55. We recommend opening long trades from the MA55 area. Protect your positions below the MA55.

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