We are in second wave of deeper correction in 1W chart, since 80s. we may see huge weakness and falling dollar in F16-F17. here 92.5 and 88 is crucial barrier for medium term range.
Gold corrective structure to 72 to fill the gap after post NFP run. We may see 86 and 91 with multiple short run. then consolidate to 68 for further upside to 1330. buy dips is wiser move
FX_IDC:XAGUSD We may go in correction from here depending upon the dollar strength if it finds to bounce back. Not a good place to short. Wait for correction and look for upward wave formation Buying dips would be wise.
preference: short positions below 1243.30 with targets @ 1232.00 & 1226.00 in extension. Alternative scenario: above 1243.30 look for further upside with 1249.50 & 1255.50 as targets. Comment: the RSI lacks upward momentum. Supports and resistances: 1255.50 1249.50 1243.30 1238.01 Last 1232.00 1226.00 1220.00