20/12/2018
Gold & Silver Price Analysis – FOMC-Spurred Key-reversals Weaken Backdrop
This would be a very important threshold to hold if the trend off the August low is to maintain, otherwise another big leg lower could kick off. For now, caution is warranted given yesterday’s forceful turnabout, but so long as the Nov-curent channel is maintained there isn’t reason yet to turn aggressively bearish.
On the top-side, should we see a close above the high yesterday at 1258, then the upper parallel from November and summer time will come into play as resistance.