Daily analysis of Gold for November 04, 2016

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Overview

Gold has been trading in a narrow range since morning, settling above 1297.74 level. This keeps our bullish expectations valid. The price might show more sideways fluctuation until stochastic manages to gain enough positive momentum to push the price to continue the overall bullish trend. Therefore, the bullish trend will remain active in the short term supported by the EMA50. Let me remind you that our main targets begin by breaching 1330.00 level to open the way to visit 1375.00 level, noting that holding above 1297.74 represents the key condition to continue the suggested rise for today. The expected trading range for today is between 1285.00 support and 1330.50 resistance.

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

Daily analysis of Silver for November 04, 2016

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Overview

Silver price bounced upwards after leaning on the bullish trend line that appears on the chart. The yesterday's closing price was above 18.30 level. The EMA50 provides good support to the price, while stochastic shows bullish trend signals on the four hours' time frame. Therefore, these technical signals support the continuation of the bullish trend scenario in the upcoming period. The main target lies at 19.38 level. Chances of continuation of the trend will remain high unless the price breaks the 18.30 and 18.00 levels and holds below them. The expected trading range for today is between 18.00 support and 18.70 resistance.

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