GOLD MARKET UPDATE
Pivot: 1314.80
Our preference: long positions above 1314.80 with targets @ 1331.25 & 1335.00 in extension.
Alternative scenario: below 1314.80 look for further downside with 1309.50 & 1304.50 as targets.
Comment: the RSI lacks downward momentum.
Supports and resistances:
1340 / 1335 / 1331.25 / 1323 (Major) / 1314.80 / 1309.50 / 1304.50
SILVER MARKET UPDATE
Pivot: 18.35
Our preference: long positions above 18.35 with targets @ 19.07 & 19.19 in extension.
Alternative scenario: below 18.35 look for further downside with 18.17 & 18.03 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
19.45 / 19.19 / 19.07 / 18.74 (Major) / 18.35 / 18.17 / 18.03
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