20 Aug 2013
Precious metals rally off lows, silver regains 23.00 level
FXstreet.com (New York) - Precious metals rose off of earlier lows, recovering back to positive territory respectively, with silver notably making a steadfast rally.
Gold bullishness remains
Gold bounced higher after testing levels above the previous high and main support level (point A) at 1346.00. Accordingly, the bullish scenario remains favored. A prolonged break back above 1370.00, may signal further upside over intraday basis. At the time of writing, gold prices are trading at USD $1373.27 per oz. Tuesday.
Silver rallies off lows
Silver printed a shooting star candle at 23.50 resistance level yesterday, threatening for a deep downside correction, while price dips lower with the start of today’s session. Therefore, it is preferred to move to sidelines for now, and look for signs of rebound to long the metal from lower levels. The price of silver has now moved to USD $23.14 per oz. during US trading.
Gold bullishness remains
Gold bounced higher after testing levels above the previous high and main support level (point A) at 1346.00. Accordingly, the bullish scenario remains favored. A prolonged break back above 1370.00, may signal further upside over intraday basis. At the time of writing, gold prices are trading at USD $1373.27 per oz. Tuesday.
Silver rallies off lows
Silver printed a shooting star candle at 23.50 resistance level yesterday, threatening for a deep downside correction, while price dips lower with the start of today’s session. Therefore, it is preferred to move to sidelines for now, and look for signs of rebound to long the metal from lower levels. The price of silver has now moved to USD $23.14 per oz. during US trading.