Technical analysis of gold and silver (Alexander Sivtsov)
Gold chart (current price: $ 1245.30)
Gold is trading near the zero mark during the Asian session.
- Resistance 1: From $ 1260.70 (December 5 minimum)
- Resistance 2: From $ 1268.70 (December 6 maximum)
- Support 1: From $ 1240.00 (technical level)
- Support 2: From $ 1228.50 (technical level)
Computer analysis: The Stochastic Oscillator movings on the H4 chart indicate the oversold of the instrument, that is why there may be some recovery in the price of gold.
Silver chart (current price: $ 15.73)
Silver is trading with a plus during the Asian session.
- Resistance 1: From $ 16.00 (psychological level)
- Resistance 2: From $ 16.19 (December 4 maximum)
- Support 1: From $ 15.59 (December 7 minimum)
- Support 2: From $ 15.42 (July 11 minimum)
Computer analysis: The Stochastic Oscillator movings on the chart H4 indicate oversold of the instrument. So, an upward correction of the price of silver is possible.