Trendy XAU/USD As expected, we have seen range-bound trading in Gold. Gold falls vertically after the FED statement in the previous week and now it is in the consolidation phase. Now, what to expect??? Gold has support at $1760 and resistance at $1805. Gold formed bullish Harami pattern on the weekly chart. Break and close below $1760 will take it to $1745 levels. More and more downside panic we will see on a weekly close below $1745. Else it could test its resistance level of $1805 again. Break and close above $1805 will take Gold to $1860—$1890 levels. Trade safely as per levels given above. More we will update during market hours. Trendy XAG/USD Comex Silver too is facing resistance at $26.40 and support at $25.50 Decisive break and close below $25.50 will take Silver to $24.20—$23.50 levels in days to come. Or, else it could test its resistance level of $26.40 again. More and more upside rally we will see on a close above $26.40 levels only. Silver is trading near to 61.8% from its previous rally. We are highly bullish in Silver for medium to long term. Chances are bright that Silver will bottom out soon. Trendy Comex … Continue reading Weekly update on XAU/USD, XAG/USD, Copper and Lead; Lead looks trendy