- During the Asian trading session, the gold price found its support at the $1920 level.
- The silver price managed to rally above the $24.20 level yesterday.
gold chart analysis
During the Asian trading session, the gold price found its support at the $1920 level. Price pressure has now shifted into that area, which could lead to a continuation of the price decline. We need negative consolidation for a bearish option. The lower potential targets are the $1,910 and $1,900 levels. We need positive consolidation and a move above the $1930 level for a bullish option.
So we have to hold there and with the next bullish momentum trigger a further rally in the price of gold. The highest potential targets are the $1,940 and $1,950 levels.
Silver Chart Analysis
The silver price managed to rally above the $24.20 level yesterday. It did not stay there for long, and a pullback below the $24.00 level followed. During the Asian trading session, the price continued to fall and is now at the $23.60 level. The current bearish pressure could continue to pressure the price and push it lower.
The lower possible targets are the $23.40 and $23.20 levels. For a bullish option, we need further positive consolidation and a return to the $24.00 level. A break above would give us another opportunity to start a new attempt to recover the price of silver.
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