Gold is cracking the daily SMA 50 today and thus is loading the target from 1810 area support to the SMA 200 (1783).
The US dollar is taking out its SMA 50 today and eyeballing the favored objective of its SMA 200 above 106. Up there is a convergence of visual resistance, the SMA 200 and the 38% Fib, which is the minimum retrace we’d expect for a decent counter-trend rally.
Silver is not surprisingly dropping through the first key support at 22, and looking for the support that coincides with the SMA 200 around 21, which we have prepared for. Support actually extends to around 20.50 as also previously noted (but not drawn on this chart).
