Silver
Yesterday's candlestick formation proves how the trading range was very tight. Thus; we still see that the metal is preparing to achieve potential upside movements in order to resume the CD leg of the suggested harmonic AB=CD pattern. A stable move above 18.35 is needed to confirm the scenario.Recommendation Based on the charts and explanations above our opinion is, buying silver from 18.25 targeting 18.90 and stop loss below 17.70 might be appropriate
Gold
Gold is moving within a very tight range since the opening of this week. Therefore, we still see chances for completing the CD leg of the suggested harmonic structure, while being carried above SMA 50. We just need a clear penetration for the pivotal resistance level of 1162.00 to be confirmed that, the bullishness might control the movements over intraday basis.Recommendation: Based on the charts and explanations above our opinion is, buying gold with a breakout above 1162.00 targeting 1187.00 and stop loss below 1139.00 might be appropriate.
