Gold
Gold managed to break above $1795 last week and ran out to its resistance at $1814. On Thursday it tried again to trade above $1814 , but got rejected at $1818 and fell back to $1809.
Technically, resistance at $1815/1818 seems to be very firm for gold and every time it trades near to $1815 levels is getting sold off. Until a close above $1820, we cant call this a bullish move. Intraday gold could test its support at $1795 and the weekly sup-port at $1767.
Silver
Silver came up to its 38.20 % retracement resistance of the March low and May high at $26.85 levels and fell back. Trading currently at $25.92, which is below to its 50% retracement silver to test support at $25.64 and $24.80 in a grinding manner.
Platinum and Palladium
Platinum trading currently at $1099 could find support near $1094, which is half of the candles of the previous day gains, and recoup to $1160 levels. Hourly charts suggests the sell off could wane out and platinum could post some gains.
Palladium after marking a high of $2879 last week which was near to its resistance at $2890, it fell back and trading near to $2800 currently. We could an attempt to climb whereas near resistance is at $2827 and support is now at $2772 followed by $2750.
Data and Events for U.S this week
- CPI month on month on 13th July
- Core CPI month on month on 13th July
- Fed Chair Powell Testifies on Wednesday 14th July
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