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Bullion

GOLDGOLD had a sharp sell off like equities in the 1st week of March due to Central Banks across the globe pumping liquidity and reducing rates. Besides the domino principle of one pulling the other (losses in equities globally being cleared via unwinding of long gold positions) as one asset manages the other in a systematic risk environment. Current set up suggest $1675 where it would complete its minimum Bullish Dragon (trigger - hourly close above $1630). Only if it sustains above that $1800 is the next level with some resistance near $1735. Else a dip till $1575 before it attempts another up move. From a medium to long term prospective this could be the last leg of the rally from 2016, post this Gold could start a fresh downside cycle.
OANDA:XAUUSDEducation
by Dinesh_C_Nagpal
1
Silver - the news is out, is it absorbed in the prices ?Silver moving in a flag pattern, in on the lower point of the channel. If the channel is broken on the downside, a slide upto 16.82 can be expected. It has been correcting for some time, there is a possibility that after all the news flow, the short positions will start to unwind and push the prices higher. Since my ideas can be seen in India only, by the time our exchanges will open, prices will probably settle down. 16.80 is an important support while a breach of 17.8 will aid the bulls to push the prices higher.
TVC:SILVERLong
by ipuneet