GOLD MARKET UPDATE
Pivot: 1279
Our preference: short positions below 1279.00 with targets @ 1265.30 & 1261.00 in extension.
Alternative scenario: above 1279.00 look for further upside with 1283.00 & 1288.00 as targets.
Comment: Gold is moving sideways between its key resistance at 1279 and key support at 1261.
Supports and resistances:
1288 / 1283 / 1279 / 1277.16(Major) / 1265.30 / 1261 / 1256
SILVER MARKET UPDATE
Pivot: 17.03
Our preference: long positions above 17.03 with targets @ 17.40 & 17.45 in extension.
Alternative scenario: below 17.03 look for further downside with 16.93 & 16.80 as targets.
Comment: the RSI is well directed.
Supports and resistances:
17.58 / 17.45 / 17.40 / 17.30 (Major) / 17.03 / 16.93 / 16.80
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