There's not too much else happening in European morning trade but precious metals are the standout movers at the very least. Silver is now clocking above $51 on the day in seeking a breakout as seen here, but gold is also recovering strongly to now retest the $4,000 mark. It's a crucial moment now for dip buyers in trying to regain near-term control in contesting the 100-hour moving average (red line) as well the $4,000 level:
Gold (XAU/USD) hourly chart
Hold a break above and the near-term bias switches back to being more bullish. But keep below both key levels and sellers are still in a position to wrestle back near-term control amid the profit-taking since yesterday. From earlier: Gold cools on profit-taking but still poised to end the week higher
