Gold and silver: The price in the zone of $1830-1840
- During the Asian session, the price of gold was maintained above the $1830 level.
- Yesterday’s silver price growth was stopped at the $22.00 level.
Gold chart analysis
During the Asian session, the price of gold was maintained above the $1830 level. We still have resistance at $1840 and need a break above to trigger a continuation of the price recovery. Potential higher targets if we move above are the $1850 and $1860 levels. We need to go down to the $1820 level for a bearish option.
Then we need a break below and a negative consolidation for further continuation. Potential lower targets are $1810 and $1800 levels.
Silver chart analysis
Yesterday’s silver price growth was stopped at the $22.00 level. Since then, the price has made a minor pullback to the $21.80 level. On Friday, the price fell to $21.20 and thus formed this year’s low. Now we need to break above the $22.00 level to continue the recovery. After that, we look at the $22.20 level as the next potential resistance.
We need a negative consolidation and a price drop below the $21.60 level for a bearish option. This would trigger a price pullback with an eye on the $21.20 support level. If we had fallen to that level, it is possible that we would have tested the $21.00 level.
