{"id":57895,"date":"2011-03-24T12:45:19","date_gmt":"2011-03-24T01:45:19","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/03\/24\/technical-picture-bullish-for-precious-metals\/"},"modified":"2011-03-24T12:45:19","modified_gmt":"2011-03-24T01:45:19","slug":"technical-picture-bullish-for-precious-metals","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/03\/24\/technical-picture-bullish-for-precious-metals\/","title":{"rendered":"Technical Picture Bullish For Precious Metals"},"content":{"rendered":"<p>\n\t<strong>&#8211; Platinum and palladium showing bullish technical signs<br \/>\n\t&#8211; Further gains expected in gold and silver<br \/>\n\t&#8211; Gold likely to test all-time high<\/strong><\/p>\n<p>\n\t<br \/>\n\tBy Chris Shaw<\/p>\n<p>\n\tIn recent sessions both gold and silver have returned to trade at&nbsp;previous highs, while platinum and palladium continue to lag with respect to any recovery.&nbsp;<\/p>\n<p>\n\tThis subdued performance of the platinum group metals may not continue, the technical analysts at Barclays Capital noting both charts are showing some bullish signs. According to the analysts palladium in particular is giving a very strong basing signal, having bounced from bearish momentum extremes.<\/p>\n<p>\n\tThe technical analysts at Barclays are targeting a break above former range lows in the 1770 price range for platinum and the 760\/765 area for palladium. Such breaks would confirm the end of the three-wave correction off the year&#039;s highs.<\/p>\n<p>\n\tBeyond these levels, prices are expected to break above 2011 peaks to establish new highs. The analysts at Barclays have initial targets of near 2,000 for platinum and near 900 for palladium.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/barclays24-3a.jpg\" style=\"width: 700px;height: 587px\" \/><\/p>\n<p>\n\tThe technical analysts at Barclays have also seen bullish indicators for silver and gold. A bullish flag formation has unfolded for silver, with both daily and quarterly targets converging. Since the flag formation was confirmed prices have continued to gain, pushing through range highs at 36.77. An extension is expected, with the analysts setting an initial target of 37.50 and then 38.50.&nbsp;<\/p>\n<p>\n\tFor gold, the break above Monday&#039;s 1435 peak offers further support to the bullish view of the analysts, with a close above this level confirming a test of the all-time high at 1445. Beyond 1445, the analysts have targets of 1465 and then 1500.&nbsp;<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/barclays24-3b.jpg\" style=\"width: 700px;height: 564px\" \/><\/p>\n<p>\n\t&nbsp;<\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we <span>apologise<\/span>, but technical limitations are to blame.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical analysts at Barclays Capital see bullish technical pictures across the precious metals, with gains expected for gold and silver and an end to corrections in platinum and palladium.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/57895"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=57895"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/57895\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=57895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=57895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=57895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}