Technical analysis of gold and silver (Alexander Sivtsov)
Gold chart (current price: $ 1292.70)
Gold is trading below the zero mark during the Asian session.
- Resistance 1: From $ 1300.00 (psychological level)
- Resistance 2: From $ 1305.70 (October 16 maximum)
- Support 1: From $ 1285.40 (November 24 minimum)
- Support 2: From $ 1277.50 (Support Up Channel on H4)
Computer analysis: The Stochastic Oscillator movings on the charts H1 and H4 are in the neutral zone, that is why there may be some consolidation of the price of gold.
Silver chart (current price: $ 16.97)
Silver is trading with a small minus during the Asian session.
- Resistance 1: From $ 17.33 (November 17 maximum)
- Resistance 2: From $ 17.41 (Low resistance line of the channel on W1)
- Support 1: From $ 16.73 (November 3 minimum)
- Support 2: From $ 16.56 (October 27 minimum)
Computer analysis: The Stochastic Oscillator movings on the charts H1 and H4 indicate the oversold of the instrument, so one should expect a rise in the price of silver.