Technical analysis of gold and silver (Alexander Sivtsov)

Gold (current price: $ 1265.50)

Gold is traded with a small minus during the Asian session.

Resistance 1: From $ 1282.20 (October 26 maximum)
Resistance 2: From $ 1290.70 (October 20 maximum)
Support 1: From $ 1260.30 (October 6 minimum)
Support 2: With $ 1251.00 (Support Up Channel on D1)

Computer analysis: Movings of Stochastic Oscillator on the graph H4 indicate that the instrument in the oversold zone; one should expect an upward correction in the price of gold in today’s trading.

Silver (current price: $ 16.66)

Silver is trading below zero mark during the Asian session.

Resistance 1: From $ 17.00 (psychological level)
Resistance 2: From $ 17.11 (October 24 maximum)
Support 1: From $ 16.50 (October 4 minimum)
Support 2: From $ 16.28 (October 6 minimum)

Computer analysis: The Stochastic Oscillator on the H4 chart also indicate that silver, is in oversold zone. That is why the situation can be similar to gold.