Silver
A negative divergence has been formed on the four-hour interval, accompanied by bearish candlesticks formations, signaling that the metal is seeking for PRZ for the bearish harmonic AB=CD pattern. Thus; possible downside movements could be seen over intraday basis. AROON also supports our negative scenario.Recommendation Based on the charts and explanations above our opinion is, selling silver from 18.75 targeting 18.15 and stop loss above 19.25 might be appropriate.
Gold
After touching the initial resistance levels between 1183.00 and 1187.00, gold started to decline once more below 76.4% Fibonacci levels of XA leg for the bearish harmonic structure. This structure is still in favor, while the negative divergence could be more efficient if the metal hits 1172.00. From here, possible bearish actions could be witnessed over intraday basis.Recommendation Based on the charts and explanations above our opinion is, selling gold from 1183.00 targeting 1158.00 and stop loss above 1196.00 might be appropriate.
