Silver
On the provided four-hour chart we see that the metal has been able to reach the second PRZ-potential reversal zones- of the bearish harmonic AB=CD pattern; where a clear shooting star candlestick pattern has been formed, accompanied by negative signs on RSI 14 and AROON indicators. Therefore, possible negative movements could be seen during this week.Recommendation Based on the charts and explanations above our opinion is, selling silver from 18.65 targeting 17.90 and stop loss above 19.25 might be appropriate.
Gold
Finally, gold has been capable of touching the awaited Fibonacci level of 76.4% for XA leg, seen on our provided daily chart. Currently, our suggested harmonic structure is completed while the negative divergence appearing on Stochastic is still working; therefore, potential downside actions could be witnessed during this week, targeting 1144.00 zones and might extend towards 1127.00 areas.Recommendation Based on the charts and explanations above our opinion is, selling gold from 1180.00 targeting 1144.00 and stop loss above 1207.00 might be appropriate.
