- The price of gold at the opening of the Asian trading session was at the $1860 level.
- At the start of the Asian session, the price of silver falls to the $22.18 level.
gold chart analysis
The price of gold at the opening of the Asian trading session was at the $1860 level. During the Asian session, the price managed to rally to the $1880 level. At that level, gold finds resistance and pulls back to the $1870 level. for a bearish option, we need negative consolidation and a retest of support at the $1860 level.
A break below would signify the continuation of the downtrend and the formation of a new 1-month lower low. The lower potential targets are the $1850 and $1840 levels. For a bullish option, we need positive consolidation and a break above the current resistance at the $1880 level. So you have to stay up there and with the next momentum continue with the recovery of the gold price. The highest potential targets are the $1890 and $1900 levels.
Silver Chart Analysis
At the start of the Asian session, the price of silver falls to the $22.18 level. After which, we see a recovery to $22.60, where we found new resistance. Silver is taking another turn lower, and we are again looking at the low this morning for potential support. For a bearish option, we need a negative consolidation and a break below to the $22.00 support level.
Thus we would form a new low and confirm the continuation to the bearish side. A lower potential target is the $21.80 level. We need positive consolidation and a yield above the $22.60 level for a bullish option. It is then necessary to hold up, thus forming a new bottom, and with the next push, we would begin the continuation of the silver price rally. The highest potential targets are the $22.80 and $23.00 levels.
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