Gold
Gold experienced a smooth downwards movement in July
2015. In August, price consolidated for about two weeks before breaking
northwards last week. Price consolidated again before the end of last week and
in the beginning of this week before breaking northwards again. This week is
particularly interesting because Gold was thought of rallying, which is now
happening. It is possible that the commodity would continue to rally in spite
of consolidations and transient corrections along the way. As long as the
support levels at 1110.00 and 1100.00 are not breached to the downside, this
forecast would be valid. Since last week, price has made decent gains, and more
gains may be made because this bullish signal may hold out till the middle of
November 2015. It might even go beyond that.
Silver
In the last month
and the last few weeks, the movement on Silver is quite similar to that of
Gold. Price went upwards significantly last week, and then got corrected in the
beginning of this week. However, Silver has gone upwards again – all indication
being bullish. There are noteworthy demand levels at 15.0000 and 14.5000, which
would try to resist further bearish corrections. Just like Gold, Silver may
continue to rally until November 2015. Even bulls may be aided further by
Thanksgiving effects in that month.
Source: www.tallinex.com
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