- During the Asian trading session, the gold price continues to pull back.
- During the Asian trading session, the silver markets continue to pull back below the $21.40 level.
gold chart analysis
During the Asian trading session, the gold price continues to pull back. The price forms a new lower low at the level of $1817. After that, we see a slight recovery above $1820, but only to the $1828 level, because a new downward pressure on the price starts soon. We are now looking at the $1820 support level, but there is a good chance that we will break down below and make a new low.
The lower potential targets are the $1810 and $1800 levels. We need positive consolidation and a return to the $1840 movement zone for a bullish option. After that, with some positive consolidation, we could expect to see a possible recovery.
Silver Chart Analysis
During the Asian trading session, the silver markets continue to pull back below the $21.40 level. The decline continued to the $21.20 level, and we are now testing the support at that level. Too much pressure could create a break below and send the price of silver to a new low. The lower potential targets are the $21.00 and $20.80 levels.
We need positive consolidation and a yield above the $21.60 level for a bullish option. This would allow us to get out of the awkward zone. So we have to stay up if we want to keep silver prices going higher.
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