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Technical update - Copper, Gold, Silver and Platinum
Copper has broken through key support around 405. RSI is below 40 on both Daily and Weekly i.e. bearish sentiment on short and medium term. There is no strong support before consolidation area around 370-350. chart XAUUSD Gold spot is trading in s lightly rising channel. However, strong key support is $1,780. Resistance at 1,880. chart XAGUSD Silver spot range bound between 20.45 and 22.50. Break is needed for direction. If bearish break out next support is at around 18.90. If bullish break out resistance at 23.30. However, a close above both 100 and 200 SMA’s needed to get upside traction. chart XAUXAG ... (full story)