MORNING NOTE 9:05 AM

 

April gold slipped back to test the 200-period MA at $1327.30 this morning before bouncing. To support another attempt at $1350 prices would have to recapture the $1340 level convincingly. Slipping below $1323 would likely trigger another wave of selling.

Same with silver. Below the 200-period on the 1-hour chart would support a breakdown. To maintain the uptrend, it has to retake $16.00 decisively.