- Gold Price Still Not Giving Up Finding It Back Above the $2000 Level
- During the Asian trading session, the silver price managed to hold above the $23.00 level.
gold chart analysis
The gold price is not giving up yet as it is back above the $2000 level. During the Asian trading session, the price of gold moved in the range of $1980-$2000. We have good support at the EMA20 moving average, and we could expect to see a break above it and gold to continue to go higher.
Possible earlier targets are the $2002 and $2008 levels. We need negative consolidation and a dip to the support this morning at the $1980 level for a bearish option. A drop below would be a sign of a possible further decline in the price of gold. The lowest potential targets are the $1,975 and $1,968 levels.
Silver Chart Analysis:
During the Asian trading session, the silver price managed to hold above the $23.00 level. The high price today is the $23.29 level. If the current consolidation continues, we could find ourselves above that level soon. The highest potential targets are the $23.35 and $23.50 levels. We need negative consolidation and a pullback below the $23.00 level for a bearish option. An important support zone is $22.80-$22.90.
Should we break down below this area, the price pullback could be stronger. The lower possible targets are the $22.70 and $22.50 levels.
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