Silver and Gold: take on their 4hr Cloud by Mary McNamara

Silver and Gold look to be putting in a bounce off support and are both taking on the resistance of their 4hr Cloud

Silver: has bounced up off the support of the $16 level, a recent support trend line (pink) and the major monthly triangle trend line. Watch for any break and close out of the 4hr chart’s bullish descending wedge. This would possibly tie in with a breakout from the 4hr Cloud and would be a bullish signal suggesting continuation:

Silver 4hr: watch for any bullish trend line breakout:

Silver4hr

Silver 4hr Cloud: watch for any break and hold above the 4hr Cloud:

Silver4hrCloud

Gold: this looks to be holding up off the $1,200 level and is heading to the upper trend line of a descending channel. A breakout from this channel would tie in with a break above the 4hr Cloud and would be a bullish signal:

Gold 4hr: watch for any bullish trend line breakout:

Gold4hr

Gold 4hr Cloud: watch for any break and hold above the 4hr Cloud:

Gold4hrCloud

Summary: Silver and Gold are looking bullish as they bounce off support and any break above bear trend lines and their 4hr Cloud would be bullish and suggest continuation.

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