Technical Update - Gold at strong resistance. Silver lagging Gold strength. Platinum building uptrend. Copper testing key support

Silver XAGUSD is trying to get past the 0.786 retracement at 23.11 but seems to be struggling to break above the 100 and 200 daily Moving Averages. It could also be a bit of a struggle to break back above the Cloud area (shaded area)

However, if the daily RSI is closing above the 60 threshold sentiment has switched to positive supporting the bullish picture on Silver strongly. A close above 23.78 will confirm uptrend.

An uptrend with short-term potential to 25.25 – 26.00

If Silver is sliding back below 22.35  the bearish trend is likely to resume

Platinum XPTUSD has broken above its very short-term falling trendline and seems to be building an uptrend/rising channel pattern.

Further upside could be seen towards strong resistance area 940-950 but the declining 55, 100 and 200 Moving Averages will likely put a damper on the upside potential

Copper is a re-peat of the latest update. The metal once again-again testing key support at 354.50. If closing below it could fuel a sell-off lower with no support until around 323-313

If Copper Bulls can once again manage to keep Copper above 354.50 a move to test the upper falling trendline could be seen.

On the medium-term (weekly chart) Copper has closed below its lower rising trendline thus broken bearish out of its Triangle like pattern and is in a downtrend both short- and medium-term. However, for further down trend potential a close below 354.50 is needed