10.04.2015 - Where Are Gold And Silver Heading Next?
Gold and silver rebounded off their lows in the past few weeks thanks to the U.S. dollar’s pullback, dovish sentiment regarding Fed policy, oil’s bounce, and geopolitical turmoil. In the past week, however, precious metals have softened as the dollar bounced. Where are they headed next? Let’s take a look at some charts. Gold bounced off of its $1,140 to $1,150 support zone after the March FOMC meeting that sent dollar reeling, but has since struggled at its key psychological level at $1,200. If gold’s bounce continues, $1,300 (the January high) is the next resistance level to watch. A decisive break below the $1,140 to $1,150 support zone or above the $1,300 resistance level is necessary to confirm gold’s next major directional move...............................................Full Article: Source
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