Technical analysis of gold and silver (Alexander Sivtsov)
Gold chart (current price: $ 1276.70)
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 $ 1265.20 (November 3 minimum)
- Support 2: From $ 1260.30 (October 6 minimum)
Computer analysis: The Stochastic Oscillator movings on the chart H4 indicate the oversold of the instrument. So, one should expect a recovery in the gold price.
Silver chart (current price: $ 16.87)
Silver is traded with a small plus during the Asian session.
- Resistance 1: From $ 17.05 (November 10 maximum)
- Resistance 2: From $ 17.25 (October 20 maximum)
- Support 1: From $ 16.73 (November 3 minimum)
- Support 2: From $ 16.56 (October 27 minimum)
Computer analysis: The Stochastic Oscillator movings on the chart of H4 are in the neutral zone. One should expect the continuation of the consolidation of the silver price.