Technical analysis of gold and silver (Andre Green)
Gold chart (current price: $ 1296.00)
Gold forms a double top, which confirms the possibility of reduction of this asset.
- Resistance 1: From $ 1305.00 (technical level)
- Resistance 2: From $ 1310.00 (technical level)
- Support 1: From $ 1392.00 (technical level)
- Support 2: From $ 1285.00 (technical level)
Computer analysis: The Stochastic Oscillator movings are in the slight oversold zone due to the persistence of uncertainty and general negative sentiments.
Silver chart (current price: $ 16.30)
Silver was under pressure of correction and returned to a downtrend.
- Resistance 1: From $ 16.50 (technical level)
- Resistance 2: From $ 16.70 (technical level)
- Support 1: From $ 16.30 (technical level)
- Support 2: From $ 16.20 (May minimum)
Computer analysis: The Stochastic Oscillator movings are in the neutral zone after exiting from overbought zone, confirming the possibility of a decline.