Daily analysis of Gold for March 11, 2016

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Overview

Gold price closed yesterday's session above the 1,262.23 level after bouncing bullishly from the retest level of the previously breached resistance that appears on the above chart. It supports continuation of the bullish trend scenario efficiently in the near future, waiting to visit the 1300.00 level, which represents the next main target for the current bullish wave. We should be aware that stochastic negativity might slow down the suggested bullish wave and push the price to test the support base formed above 1262.23 before resuming the expected bullish bias, which its continuation conditions holding above 1240.45 level.

The expected trading range for today is between 1250.00 support and 1300.00 resistance.

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

Daily analysis of Silver for March 11, 2016

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Overview

Silver price rallied upwards clearly yesterday to touch 15.70 level and settle near it. As we mentioned in our recent reports, the price needs to breach this level to reinforce the expectations for continuation of the bullish trend in near future. It will open the way to visit 16.35 level as the next main station. Therefore, the positive overview will remain valid for the rest of the day conditioned by holding above 15.15 and 14.67 levels.

The expected trading range for today is between 15.15 support and 16.00 resistance.

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