Technical analysis of gold and silver (Alexander Sivtsov)

Gold (current price: $ 1275.90)

Gold is trading in a narrow range during the Asian session.

Resistance 1: From $ 1290.70 (October 20 maximum)
Resistance 2: From $ 1300.00 (psychological level)
Support 1: From $ 1260.30 (October 6 minimum)
Support 2: With $ 1252.00 (line of the support Up channel on D1)

Computer analysis: The Stochastic Oscillator movings on the H4 chart still indicate that instrument is in overbought zone. That is why one should expect a further decline in the price of gold in today’s trading.

Silver (current price: $ 16.81)

Silver is trading near the 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 movings on the H4 chart also indicate that instrument is in overbought zone, so the situation can be similar to gold.