GOLD MARKET UPDATE
Pivot: 1339
Our preference: short positions below 1339.00 with targets @ 1321.50 & 1316.00 in extension.
Alternative scenario: above 1339.00 look for further upside with 1345.50 & 1352.75 as targets.
Comment: the RSI lacks upward momentum. The 50-period moving average is playing a resistance role in the decline.
Supports and resistances:
1352.75 / 1345.50 / 1339 / 1328.35 (Major) / 1321.50 / 1316 / 1309
SILVER MARKET UPDATE
Pivot: 19.15
Our preference: short positions below 19.1500 with targets @ 18.5500 & 18.3600 in extension.
Alternative scenario: above 19.1500 look for further upside with 19.4300 & 19.6500 as targets.
Comment: the RSI lacks upward momentum.
Supports and resistances:
19.65 / 19.43 / 19.15 / 18.95 (Major) / 18.55 / 18.36 / 18.05
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