Precious metals update

Gold manage to hold Monday's dips near 655.50, Mar 23 low and stays positive for extension on the back of double bottom reversal off the trend-line support.

Latest bounce off 655.50 will pivot up-leg over 669.35, Mar 28 high ahead of resistance zone near 675.78, fib.764 level and 677.60, Feb 28 high.

Sustained break there projects 689.00, Feb 27 trend top.

Violation of 655.00 risks 644.20 Mar 15 low.

Silver turns cautious as it approaches key resistance at 13.690, former support level.

Yesterday's dips contained at 13.007 and the near term up-leg off 12.605 Mar 14 low stays intact.

Meanwhile, expect basing around 13.007 and 12.840.

Losing 12.840, however, sours for setback to 12.605 ahead of 12.420.

Upside breach of 13.690 will instead accelerate gains towards 13.740, Mar 2 high ahead of 14.000, preceding extension to 14.335, Mar 1 high.