Precious Metals Technical Report 25 August,2015 - Emkay Commotrade

By  Paul Ploumis 25 Aug 2015  Last updated at  08:15:28 GMT

Daily Commodity Technical

Gold –Daily Chart

Gold: Gold prices hit an fresh swing high of 27833 levels but the counter couldn't sustain at higher levels by close yesterday. Prices have retraced lower towards 26938 levels today. Immediate support for the counter is seen between 26800-26740 zones. Further weakness from current levels will see prices test these areas. Intraday view for Gold will be negative until prices stay below 27150 levels. A break above 27150 will see prices rebound towards 27450/27500 zones.

Silver –Daily Chart

 Silver: Silver prices continued to trade with a negative bias. Prices can slip towards 34500 levels Failure to break below 34500wi11 see prices rebound towards 35850136100 levels as the session progresses. A daily close below 34500 will see prices dip towards 33850/33500 levels. The outlook for silver remains range bound to negative.

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