For Gold Analysis
GOLD (Spot) intraday: bullish bias above 1107
Pivot: 1107.00
Our Preference: LONG positions above 1107 with targets @ 1126 & 1140.
Alternative scenario: The downside penetration of 1107 will call for a slide towards 1097 & 1078.
Comment: the price is supported by a rising trend line.
Trend: ST Bullish; MT Bullish
Key levels Comment
1160*** Horizontal resistance
1140** Horizontal resistance
1126** Horizontal resistance
1122 Last
1107** Intraday pivot point
1097** Horizontal support
1078** Horizontal support
For Silver Analysis:
SILVER (Spot) intraday: further upside.
Pivot: 16.00
Our Preference: LONG positions @ 16.1 with 16.55 & 16.9 as next targets.
Alternative scenario: The downside breakout of 16 will open the way to 15.65 & 15.3.
Comment: the price should pull back on its support before resuming its up trend.
Trend: ST Ltd upside; MT Bullish
Key levels Comment
17.25**
16.9**
16.55*
16.42 Last
16**
15.65**
15.3**
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