Daily analysis of GOLD for March 04, 2016

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Overview

The gold price managed to breach the 1,263.23 level and closed the last four-hour candlestick above it. This supports the continuation of our bullish overview efficiently for the upcoming period and opens the way to 1,300.00 as the next main station. Therefore, we still suggest the bullish trend on the intraday and short-term bases. Remember that holding above 1,234.40 and 1,212.34 levels is important to continue the expected rise.

The expected trading range for today is between 1,240.00 support and 1,300.00 resistance.

The material has been provided by InstaForex Company - www.instaforex.com

Daily analysis of Silver for March 04, 2016

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Overview

The silver price continued its positive trading yesterday's evening and touched 15.30 levels approaching from the bearish channel's resistance. It makes us prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by 14.67 support and 15.35 resistance. We are waiting for breaching one of them to detect the next targets clearly. We have to note that breaching 15.35 levels will push the price to achieve more gains than its main targets reaching to 16.35; while breaking the 14.67 support represents the key to return to the main bearish track that targets the 13.63 area on the near-term basis.

The expected trading range for today is between 14.67 support and 15.70 resistance.

The material has been provided by InstaForex Company - www.instaforex.com