During Thursday’s session on, the gold markets shot higher initially but met with adequate resistance due to the gap coming a couple of sessions ago that ended up creating a shooting star. The shooting star was a good sign that market is going to decline from here, but the market needs to break down below the 1180 level for the purpose of conducting comfortable selling. If this is done, the feeling is that the market will be heading towards the 1140 handle. Then there will be no one interested in buying this market.
On the other hand, silver markets escalated during the course of Thursday’s session; however, it reverted and fell at the $16 handle. Finally, the market finished up creating a shooting star that is actually is a relatively negative signal. Being the case, the level of $15.50 is a smaller at the floor, but the real support is probably down at a handle of $15. In this condition, the market considered bearish but there will probably be buyers from time to time around the general vicinity. However, there is the tendency of the US dollar will continue to sustained working against the value of silver that is going forward.