Daily analysis of Gold for August 05, 2016

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Overview

The gold price showed positive trading after leaning on the EMA50 yesterday. Positive support by stochastic on the intraday time frames keeps the chances of trading positively valid in the upcoming sessions. The price is likely to breach 1,375.00 levels to reinforce the expectations of targeting the 1,400.00 followed by 1,440.00 areas. Therefore, we still expect the bullish trend on the intraday and short-term bases unless breaking and holding below 1,312.00 and 1,297.75 levels. The expected trading range for today is between the 1,345.00 support and the 1,390.00 resistance.

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

Daily analysis of Silver for August 05, 2016

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Overview

The silver price broke 20.05 levels and settled below it now, which puts the price under potential negative pressure during the current session. The target is testing the key support 19.38 before turning back to resume the main bullish trend. Note that the overall trend is still bullish as long as the 19.38 level remains intact. A breach of the 20.05 level will make the price return to the bullish track and will stop the negative effect of the Head and Shoulders pattern that was completed by breaking the mentioned level.

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