Gold & Silver technical analysis: Dollar inched higher, capping bulls progress


  • The gold/silver ratio has tumbled back below the 20-day moving average, -1.14% on the day.  
  • US Dollar holding its ground, pressuring the precious metals. 

The Dollar is out of favour but still holds in there, capping progress in the precious metals, hell-bent on higher grounds. However, from a technical perspective, the series of bearish gold pin bars on the daily charts do not bode well for the bulls. However, on the upside, 1410 was cleared by the close and bulls can look ahead to the 1440 key resistance which makes way for a continuation to the May 2012 lows at 1527. On the downside, a test below the 20-day moving average around 1395 opens a run towards the 50% retracement of the April swing lows to late June swing highs around 1352.

Silver remains based on the 15 handle and has managed to pierce the descending resistance from 21 June highs. Bulls can aim for 15.64 and then 15.80 as key levels. On the flipside, 15.05 guards 14.90 and then14.64 ahead of the 14.29 swing lows. On a continuation to the upside, 15.60 is a target level.

Gold/Silver Ratio

Today last price 92.03
Today Daily Change 0.10
Today Daily Change % 0.11
Today daily open 91.93
Daily SMA20 90.78
Daily SMA50 88.79
Daily SMA100 86.83
Daily SMA200 85.52
Previous Daily High 93.05
Previous Daily Low 91.85
Previous Weekly High 93.36
Previous Weekly Low 92.15
Previous Monthly High 92.97
Previous Monthly Low 88.86
Daily Fibonacci 38.2% 92.31
Daily Fibonacci 61.8% 92.6
Daily Pivot Point S1 91.5
Daily Pivot Point S2 91.08
Daily Pivot Point S3 90.3
Daily Pivot Point R1 92.71
Daily Pivot Point R2 93.48
Daily Pivot Point R3 93.91



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