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Gold and Silver Outlook: Rising Trendlines Remain in Play
Gold and silver have been bullish in 2015. Last week, these precious metals started to consolidate. However, this week’s price action in both suggests that they are still bullish. The 1H chart shows a market that has been consolidating but is now breaking above a falling channel. Price has also pushed above the 200-, 100-, and 50-hour simple moving averages (SMAs), reviving a bullish bias. The RSI has also broken above 60, showing loss of the prevailing beaish momentum in the 1H chart. The 4H chart provides more evidence that gold is still bullish. We can see that the rising trendline from the 1168 low on the year ... (full story)