Daily analysis of GOLD for April 22 2016

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Overview

The gold price has been trading sideways since morning settling above the bullish trend line. Stochastic shows positive signals on the intraday time frames, which supports the continuation of the bullish trend scenario for the rest of the day, depending on the stability above 1,227.40 levels. We target 1,282.92 followed by 1,300.00 areas initially. Therefore, these factors reinforce our expectations of the bullish trend continuation on the intraday and short-term bases, which targets 1,282.92 followed by 1,300.00 levels mainly. Holding above 1,227.40 levels depends on achieving these targets.

The expected trading range for today is between the 1,235.00 support and the 1,282.00 resistance.

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

Daily analysis of Silver for April 22 2016

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Overview

The silver price showed mixed and volatile trading yesterday as it attempted to breach the bullish channel's resistance, but returned to 17.08 levels, showing some positive attempts now supported by stochastic positivity. This keeps the chances to resume the bullish bias in the upcoming period valid. Therefore, we still project the bullish trend on the intraday and short-term basis unless the price settles below 17.08, in which case the price will test 16.35 and might extend to 15.70 levels before any new attempt to rise. Our next main target stands at 18.03. The expected trading range for today is between the 16.70 support and the 17.70 resistance.

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