report as on 17/03/2010 gold & silver

A potential continuation classical pattern 'cup with handle' is under preparation for the time being as seen on the four-hour chart. Indicators might cause a mild correction before resuming the upside rally which is mainly targeting 17.95 zones. Hence additional bullishness could be witnessed over intraday basis.

A double bottom formation has taken the metal to breach the descending channel as seen on the provided four-hour chart. Henceforth, potential upside movements could be seen over intraday basis, supported by the stable move above SMA 50-colored in red-. Momentum indicator might be able to cause some kind of correction to retest the broken neckline of the classical pattern before resuming the bullish rally towards the technical objective that is seen on the image.