Gold and silver likely to break out

Fawad Razaqzada TradingCandles.com

Thanks to falling yields, precious metals are looking constructive again.

Gold has rebounded after testing the $1810 support level for the past two days and it looks poised to break its bearish trend line around $1825/30 as it continues to make bullish price action beneath it:

Silver has already broken from its falling wedge pattern:

The path of least resistance is clearly to the upside for both metals. Look to buy the dips.

Author

Fawad Razaqzada

TradingCandles.com

Experience Fawad is an experienced analyst and economist having been involved in the financial markets since 2010 working for leading global FX, CFD and Spread Betting brokerages, most recently at FOREX.com and City Index.

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