Daily Gold/Silver Market Update: Tuesday May 24, 2016

Daily Market Updates From National Bullion House
Dubai’s leading precious metals investment hub

GOLD MARKET UPDATE

Pivot: 1255

Our preference: short positions below 1255.00 with targets @ 1237.00 & 1231.00 in extension.

Alternative scenario: above 1255.00 look for further upside with 1260.00 & 1269.00 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
1269 / 1260 / 1255 / 1245.46(Major) / 1237 / 1231 / 1226

SILVER MARKET UPDATE

Pivot: 16.61

Our preference: short positions below 16.61 with targets @ 16.13 & 15.95 in extension.

Alternative scenario: above 16.61 look for further upside with 16.92 & 17.14 as targets.

Comment: technically the RSI is below its neutrality area at 50.

Supports and resistances:
17.14 / 16.92 / 16.61 / 16.30 (Major) / 16.13 / 15.95 / 15.75

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