- During the Asian trading session, the price of gold falls to the $1806 level.
- The silver price fell to the $20.54 level this morning.
gold chart analysis
During the Asian trading session, the price of gold falls to the $1806 level. Since then, we have seen little progress to the $1811 level, where we are now. We need a move above the $1815 level to try to reach towards the $1820 level. Last week, the $1820 level was solid support for us, and it resisted the downward pressure until Friday, when we broke down below.
If we can break above it, we have an opportunity to go looking towards the $1830 level. We need negative consolidation and a break below the support at the $1806 level for a bearish option. On continuation, we would probably go down to the $1800 level, and there we would try to look for the next support.
Silver Chart Analysis
The silver price fell to the $20.54 level this morning. The downtrend from last week continued today. Today’s high was $20.80, and for now, we cannot beat it. Conversely, silver pulls back again and then turns towards this morning’s low. A break below would mean forming a new lower low and continuing the bearish option.
The lower possible targets are the $20.50 and $20.40 levels. We need further positive consolidation and a jump to the $20.80 level for a bullish option. So it is necessary to stay there and, with a new momentum, start the growth of the price of silver. The highest potential targets are the $20.90 and $21.00 levels.
