Gold and Silver: The gold is maintained at around $1915
- During the Asian trading session, the price of gold hovered around the $1915 level.
- The price of silver continues to consolidate above the $24.00 level at the beginning of this week.
Gold chart analysis
During the Asian trading session, the price of gold hovered around the $1915 level. Currently, we are not able to break above, which produced a bearish impulse to the $1912 level. This is where we formed today’s low price, and we need to stay above it if we want to see a bullish continuation. Potential higher targets are the $1920 and $1925 levels.
We need a negative consolidation and price pullback to the $1910 level for a bearish option. We have additional price support at this point in the EMA50 moving average. In this way, we would fall below today’s support, which could trigger further bearish consolidation. Potential lower targets are $1905 and $1900 levels.
Silver chart analysis
The price of silver continues to consolidate above the $24.00 level at the beginning of this week. The current resistance is at $24.20, and we need a break above to continue to the bullish side. Then, we would have to maintain ourselves up there and stabilize there before continuing up. Potential higher targets are $24.40 and $24.60 levels.
We need a negative consolidation and a price drop below the $24.00 level for a bearish option. A break below would mean a potential continuation of the pullback to the next support. Potential lower targets are $23.80 and $23.60 levels. Additional support in the zone around $23.60 was provided by the EMA50 moving average.
