Daily analysis of gold for June 10, 2016

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Overview

Gold price resumed its positive trading yesterday, and it's starting to test 1,270.00 now, where the EMA50 continues to provide positive support for the price, while stochastic provides positive overlapping signal on the four hours time frame. Therefore, we still prefer the bullish trend on the intraday and short-term basis. The next target is located at 1,303.58, taking into consideration that holding above 1,243.17 represents an important condition for continuing the expected rise.

The expected trading range for today is between 1,250.00 support and 1,300.00 resistance.

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

Daily analysis of silver for June 10, 2016

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Overview

Silver has been fluctuating near 17.25 level since morning. The price needs a positive motive that will support the continuation of the bullish trend today, which depends on the stability above 17.00 level, waiting for heading to 18.00 level that represents the next main target for the current bullish wave. Breaching 17.30 level will make it easer to achieve the waited target, while breaking 17.00 level represents a negative factor that will push the price to visit 16.37 level before it returns to rise.

The expected trading range for today is between 16.80 support and 17.70 resistance.

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