Dan Norcini: Gold and Silver – 19 May

4 Hour Gold Chart

by Trader Dan
Not much going on today (Thursday). A slow day with nothing having changed for gold which remains in its recent range.

Ditto for Silver which is also working in a range with $36 or so on the top side and $33 down on the bottom.
The Continuous Commodity Index was lower today surrending a large portion of its gains from yesterday but is attempting to hold above the broken support line on its weekly chart. We would want to see it be able to do so tomorrow (Friday) as a strong finish to end the week would bode well for gold and silver next week. The flip side is a weak finish would see pressure on the metals to start off next week barring any unforeseen geopolitical events over the weekend.
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This entry was posted in Dan Norcini, Dan Norcini Gold Analysis, Dan Norcini Silver Analysis, Gold, Silver, Technical Analysis. Bookmark the permalink.

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