GOLD MARKET UPDATE
Pivot: 1272
Our preference: long positions above 1272.00 with targets @ 1293.00 & 1303.00 in extension.
Alternative scenario: below 1272.00 look for further downside with 1257.00 & 1246.00 as targets.
Comment: a support base at 1272.00 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
1315 / 1305 / 1293 / 1279.40 (Major) / 1272 / 1257 / 1246
SILVER MARKET UPDATE
Pivot: 17.07
Our preference: long positions above 17.0700 with targets @ 17.6500 & 17.8000 in extension.
Alternative scenario: below 17.0700 look for further downside with 16.9100 & 16.6500 as targets.
Comment: a support base at 17.0700 has formed and has allowed for a temporary stabilisation.
Supports and resistances:
18.00 / 17.80 / 17.65 / 17.31 (Major) / 17.07 / 16.91 / 16.65
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