Bullish Trade Calls In Precious Metals

Gold - Breached Symmetric Triangle On The Upside 

Technical Bias: Bullish

Symmetric triangle breached on the upside on 09/10/2015 after testing support trendline the third time on 02/10/2015 (first buy call for Gold) also MACD histogram is currently trading above the watermark level showing a positive trend. Price action for the precious commodities is trading above the SMA 100 (longer term Moving Average) and EMA 20 (shorter term Moving Average).

Critical resistance level $1,161.98 – $1,170.49 needs to be breached before solidifying the new upward rally while intermediate support levels stands at $1,143.08 with key support at $1,077.13

Trading Advice:

Day and Swing traders are expected to profit from the rally. If a buy position had not been initiated before now, traders should let the price retrace $1,140 -$1,143 (retest of the breached supply trendline)

Sliver: A Retest of Bullish Head and Shoulder Neckline 

Technical bias: Bullish

Price action shows neckline of the bullish Head and Shoulder pattern which was breached on 05/10/2015 was subsequently retested on 08/10/2015 to confirm a renewed buying interest in the metal. Confirming the bullish head and shoulder pattern was the On Balance Volume showing an higher low when the left shoulder, Head and Right shoulder were formed. 

Currently the price trades at around 50% Fibonacci retracement level of the downtrend ($17.75 high - $13.99 low).

Trade Advice:

Long the metal at the market price with $17.50 profit projection level while risk limited at $15.25

Platium: Trades in Downward Trendline Channel

 The weekly chart shows an engulfing pattern in a downward trendline channel. 

The uptrend would find limitation at upper trendline channel at $980.20