Metals Futures Update

Precious metals segment has seen severe corrections past five trading sessions as stock markets were sold off.

May silver contracts dropped over 2 big figures or over $10,000 in value and finally found a fragile support arr 12,76 yesterday where Asia started to buy aggressively pressing it up to the 13,00 print.

If the supports proof to be intact there should be room for a 50% correction taking prices back up to 13,70 area

The April Gold shows basically the same pattern where supports were detected around 634,50 level and once again pressed back up by Asian buyers to 647,20 this morning.

If buyers manage to take out the 647,20 resistance there is a chance of 50% retracement back up to 663,50 level