Gold and Silver: Gold is climbing towards the $1820 level
- During the Asian session, the price of gold held above the $1810 level.
- During the Asian trading session, the price of silver hovered around the $20.00 level.
Gold chart analysis
During the Asian session, the price of gold held above the $1810 level. After that, we see bullish consolidation and price growth up to $1820. We need a breakout of the price amount and stay in that zone above in order to continue the recovery with a new impulse. Potential higher targets are the $1825 and $1830 levels.
We need a negative consolidation and a retest of support at the $1810 level for a bearish option. A price drop below would first bring us down to the $1800 level, and a new breakout below this level would extend the bearish option. Potential lower targets are $1795 and $1790 levels.
Silver chart analysis
During the Asian trading session, the price of silver hovered around the $20.00 level. Now we see the beginning of a potential recovery because the bullish consolidation has started. The first important level is $20.20; we need a break above it. Then we need to maintain ourselves up there in order to create new conditions for further recovery.
Potential higher targets are the $2.30 and $2.40 levels. We need a negative consolidation and a price drop below the $20.00 level for a bearish option. If we were to see something like that, the price of silver would continue to fall. Potential lower targets are the $19.80 and $19.70 levels.
