4 Sep 2013
Gold prices testing 1400, bullishness reiterated
FXstreet.com (Lisbon) - Precious metals eased off their earlier highs during European trading, though still trading above key regions that should help foster a move higher.
Gold bullishness reiterated above 1400
Gold extended the rebound to retest 1415.00 level earlier today, however this led to a subsequent easing across European trading. Exactly where the yellow metal’s settles back (above 1400.00?) could reiterate the bullish bias, and favors further upside towards the latest high at 1433.00, within the context of the overall short-term bullish trend. Accordingly, the intraday bullish view for gold remains valid above 1400. At the time of writing, gold prices are trading at USD $1404.58 per oz. Wednesday.
Silver fails to bull ahead
Silver failed to maintain the strong bullish bias yesterday, forming a doji candle below the main descending trend line, and warning of a slowing bullish momentum. Accordingly, it is preferred to be neutral for the rest of the day. The price of silver has now moved to USD $23.87 per oz. during European trading.
Gold bullishness reiterated above 1400
Gold extended the rebound to retest 1415.00 level earlier today, however this led to a subsequent easing across European trading. Exactly where the yellow metal’s settles back (above 1400.00?) could reiterate the bullish bias, and favors further upside towards the latest high at 1433.00, within the context of the overall short-term bullish trend. Accordingly, the intraday bullish view for gold remains valid above 1400. At the time of writing, gold prices are trading at USD $1404.58 per oz. Wednesday.
Silver fails to bull ahead
Silver failed to maintain the strong bullish bias yesterday, forming a doji candle below the main descending trend line, and warning of a slowing bullish momentum. Accordingly, it is preferred to be neutral for the rest of the day. The price of silver has now moved to USD $23.87 per oz. during European trading.