Technical analysis of gold and silver (Alexander Sivtsov)
Gold chart (current price: $ 1310.80)
Gold is traded slightly below the zero mark during the Asian session.
- Resistance 1: From $ 1320.00 (technical level)
- Resistance 2: From $ 1327.00 (resistance line of the Low channel on W1)
- Support 1: From $ 1300.00 (psychological level)
- Support 2: From $ 1295.00 (technical level)
Computer analysis: The Stochastic Oscillator movings on the charts of H1 and H4 are in the neutral zone. That is why the continuation of consolidation of the gold price is possible.
Silver chart (current price: $ 16.90)
Silver is traded below the zero mark during the Asian session.
- Resistance 1: From $ 17.10 (technical level)
- Resistance 2: From $ 17.23 (January 8 maximum)
- Support 1: From $ 16.77 (December 29 minimum)
- Support 2: From $ 16.62 (December 27 minimum)
Computer analysis: The Stochastic Oscillator movings on the charts of H 1 and H 4 are coming in the oversold zone. That is why one can expect a recovery in the price of silver in the second half of the trades.