Longer time frames technicals are always essential to follow since they determine the larger gains in the particular direction.
Observing the weekly on technicals for Gold - Gold sold off from the weekly trendline. So Gold is inlikely to make sustainable gains until it toches and verifies the lower support line which by the time prices come down will be around 50wema. Hence gold at these prices is not a buy for longer term trade. Though one can have rallies on daily TF, they would be shortlived.
Silver has a similar structure as well and looks like will consolidate around the region. $27.5 to $31 is a very good value buy zone. Pls do note its a value buy zone and not a buy zone for trend followers.
In USD after the sell off the structure of the market is favoring a rally in days ahead which may be bearish for the risk trade hence going long would be not gainful.
Both SP500 and DJIA look like they might roll down further this week and thus for the bears the gains will be there for this and the week ahead.
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