we will post the detailed analysis later-This is just a quick reminder that we still beleive that precious metal sector is very bearish for the mid-and long term
Please, note-We do believe the major turning point in gold -0.37% and silver -0.35% is about to come in coming months but before that happens it's crucial to understand that the precious metals sector hasn't made their bottom yet, there is enough room for prices to go lower before we witness a substantial rally in gold -0.37% and silver -0.35% prices.
our technical analysis suggests that the gold -0.37% -1.22% has its weak support at 1221.70 where the 100-day moving average stands and $1218 which is the 0.618% retracement-however we believe these levels are very weak and once gold -0.37% -1.22% will break below these level a free fall in gold -0.37% -1.22% and silver -0.35% 0.49% will follow- waiting to visit 1208.40 level as our short-term next main target,However our our long term target is much more lower-
Please, note-We do believe the major turning point in gold -0.37% and silver -0.35% is about to come in coming months but before that happens it's crucial to understand that the precious metals sector hasn't made their bottom yet, there is enough room for prices to go lower before we witness a substantial rally in gold -0.37% and silver -0.35% prices.
our technical analysis suggests that the gold -0.37% -1.22% has its weak support at 1221.70 where the 100-day moving average stands and $1218 which is the 0.618% retracement-however we believe these levels are very weak and once gold -0.37% -1.22% will break below these level a free fall in gold -0.37% -1.22% and silver -0.35% 0.49% will follow- waiting to visit 1208.40 level as our short-term next main target,However our our long term target is much more lower-