Gold and Silver threaten fall

Silver closed at $14.965/ounce, threatening a break below medium-term support at $15/ounce. Follow-through would warn of a test of primary support at $14. Declining Trend Index peaks flag selling pressure.

Spot Silver in USD

Spot Gold is testing the base of its descending triangle, at $1280/ounce, and is likely to follow Silver lower. The bearish triangle and declining Trend Index peaks warn of selling pressure. Breach of $1280 would offer a target of primary support at $1180.

Spot Gold in USD