The metal moved slightly to the upside yesterday, but despite the slight bearishness today, the price is still trading above Linear Regression Indicators and above the key resistance of the downside move. Trading above 16.00 will be positive in the coming period, but stabilizing above 17.05 - 17.10 is significant intraday to strengthen the bullish possibility and fails the bearish corrections before extending the upside move. Linear Regression Indicator 34 is still trading to the upside after breaching the resistance of the downside move, and MACD is still showing positivity supporting the possibility of extending the upside move. | |||||
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Support | 16.84 | 16.78 | 16.40 | 16.27 | 16.00 |
Resistance | 17.27 | 17.35 | 17.43 | 17.93 | 18.00 |
Recommendation | Positive expectations above 17.00, risk-limit below 16.00. Note: Recommendation at the top. |
January 11, 2016