Technical analysis of gold and silver (Alexander Sivtsov)
Gold chart (current price: $ 1276.60)
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 of H1 and H4 are in the neutral zone. One should expect continuation of consolidation of the gold price.
Silver Schedule (current price: $ 16.98)
Silver is trading with a small minus during the Asian session.
- Resistance 1: From $ 17.25 (October 20 maximum)
- Resistance 2: From $ 17.42 (October 16 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 indicate overbought. So, one should expect some reduction in the silver price.