GOLD MARKET UPDATE
Pivot: 1270
Our preference: long positions above 1270.00 with targets @ 1279.00 & 1283.10 in extension.
Alternative scenario: below 1270.00 look for further downside with 1264.30 & 1256.40 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
1287.70 / 1283.10 / 1279 / 1272(Major) / 1270 / 1264.30 / 1256.40
SILVER MARKET UPDATE
Pivot: 17.24
Our preference: long positions above 17.24 with targets @ 17.45 & 17.58 in extension.
Alternative scenario: below 17.24 look for further downside with 17.12 & 16.97 as targets.
Comment: a support base at 17.24 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
17.76 / 17.58 / 17.45 / 17.31 (Major) / 17.24 / 17.12 / 16.97
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