Daily analysis of Gold for October 19, 2017

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Overview

Gold price begins today's trading with a bearish bias, moving below 1,281.17 level after closing the daily candlestick below it. This puts the price under more expected negative pressure on the intraday basis, targeting 1,263.15 before attempting to return to rise again. Therefore, we expect more decline in the upcoming sessions supported by the negative pressure formed by the EMA50. Please note that stepping above 1,281.17 will stop the current negative pressure and push the price to regain its main bullish track again. The expected trading range for today is between 1,263.00 support and 1,285.00 resistance.

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

Daily analysis of Silver for October 19, 2017

SILV-12.17H4.png

Overview

Silver price is showing a slight bearish bias to move below 17.00 barrier now. However, we notice that stochastic reaches the oversold areas now to provide positive signal that supports the chances of a bullish bounce, so the overall bullish trend could resume. We still suggest the general bullish bias for the short term. The expected targets of the bullish wave begin by breaching 17.43 will open the way to head towards 18.30. Please taking into consideration that breaking 16.56 will stop the expected rise and push the price to decline towards 15.49 before any new attempt to rise. The expected trading range for today is between 16.80 support and 17.10 resistance.

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