GOLD MARKET UPDATE
Pivot: 1264.50
Our preference: long positions above 1264.50 with targets @ 1293.00 & 1303.00 in extension.
Alternative scenario: below 1264.50 look for further downside with 1257.00 & 1246.00 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
1315 / 1303 / 1293 / 1282 (Major) / 1264.50 / 1257 / 1246
SILVER MARKET UPDATE
Pivot: 16.91
Our preference: long positions above 16.9100 with targets @ 17.3700 & 17.5800 in extension.
Alternative scenario: below 16.9100 look for further downside with 16.6500 & 16.4800 as targets.
Comment: a support base at 16.9100 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
17.80 / 17.58 / 17.37 / 17.14 (Major) / 16.91 / 16.65 / 16.48
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