January 20, 2015

SILVER Chart update

  • Silver trading above the falling resistance line.
  • 18-19 zone and the weekly cloud will be big test for silver bulls.
  • Medium term trend can only turn bullish on closing above these levels.

GOLD Chart update

  • Gold daily extending gains above 200 SMA.
  • As price moves up it is nearing crucial weekly resistance zone.
  • Gold bulls need a weekly close above this zone for bigger up moves to happen.