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Daily Gold/Silver Market Update: Thursday, August 18, 2016

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GOLD MARKET UPDATE

gold18-08-16

Pivot: 1344

Our preference:
long positions above 1344.00 with targets @ 1361.00 & 1366.00 in extension.

Alternative scenario: below 1344.00 look for further downside with 1338.75 & 1334.00 as targets.

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Comment: the RSI is mixed to bullish.

Supports and resistances:
1373 / 1366 / 1361 / 1352.50 (Major) / 1344 / 1338.75 / 1334

SILVER MARKET UPDATE

silver18-08-16

Pivot: 19.64

Our preference: long positions above 19.64 with targets @ 20.11 & 20.22 in extension.

Alternative scenario: below 19.64 look for further downside with 19.47 & 19.34 as targets.

Comment: the RSI is mixed to bullish.

Supports and resistances:

20.32 / 20.22 / 20.11 / 19.81 (Major) / 19.64 / 19.47 / 19.34

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