Daily Gold/Silver Market Update: Wednesday May 26, 2016

Daily Market Updates From National Bullion House
Dubai’s leading precious metals investment hub

GOLD MARKET UPDATE

Pivot: 1242.50

Our preference: short positions below 1242.50 with targets @ 1223.00 & 1218.00 in extension.

Alternative scenario: above 1242.50 look for further upside with 1248.00 & 1256.00 as targets.

Comment: the RSI is capped by a declining trend line.

Supports and resistances:
1256 / 1248 / 1242.50 / 1227.76(Major) / 1223 / 1218 / 1210

SILVER MARKET UPDATE

Pivot: 16.45

Our preference: short positions below 16.45 with targets @ 16.13 & 15.95 in extension.

Alternative scenario: above 16.45 look for further upside with 16.65 & 16.90 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances:
16.90 / 16.65 / 16.45 / 16.30 (Major) / 16.13 / 15.95 / 15.75

National Bullion House serve a wide range of clients: savers, traders and speculators, elite investors, jewellery shops and banks. With a successful track record in managing physical bullion trading activity, NBH specialize in providing the most rewarding investment opportunities in precious metals, with a dominant focus on gold.

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