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Analytics Analysis of metals

Gold/Silver Technical Outlook June 30, 2016

30 June 2016
GOLD (XAUUSD)

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There is no clear tendency in Gold prices at the moment. Some articles about the probability a longer pause in interest rates rise in the US appears already. We expect sharp growth of prices as soon as the number of those articles increases.

The Weekly chart shows the uptrend as the price is close to the MA55. The probability of crossing 1350,00 decreases this week.

The Hourly chart shows neutral trend as the price is close to the MA55 and the MA-channel looks in no direction. It is better to observe the market.


SILVER (XAGUSD)

30_06_2016_silver.jpg

Silver price almost got the resistance at 18,50 which you may find on the Weekly chart. There is a high probability of correction at the moment. It is better to avoid trading today as the price arrived already to the upper side of the MA-channel.

The Weekly chart shows the uptrend as the price is above the MA55. There is a rally targeting the resistance at 18,50.

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

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