Update GOLD, SILVER

GOLD Weekly range

• Gold weekly chart shows a broad range of 1522 - 1800.
• Weekly stochastic shows overbought readings But price yet to show weakness. Stochastic need to fall below 80 line for a possible correction otherwise range breakout is likely to happen.
• Gold bulls need a weekly close above 1800 for a possible breakout. Bearish weekly candle may start a fall.

SILVER In a range

 

• SILVER 4 Hour chart shows a range between 33.26 - 34.86
• Price for now is sustaining above 100 period SMA.
• Price is moving around the 4 Hour cloud. So the range breakout should give a bigger move for silver.