Gold and Silver: The price of gold rises above $1830
- During the Asian trading session, the price of gold hovered around the $1,830 level.
- During the Asian trading session, the price of silver rises to $21.20.
Gold chart analysis
During the Asian trading session, the price of gold hovered around the $1,830 level. Then we see a break above and a continuation to the $1837 level. The price could soon reach the $1840 level. Above, we would be a step closer to $1850, the previous resistance zone. We need a negative consolidation and a price pullback below the $1830 level for a bearish option. After that, the price of gold could continue to fall, and the potential lower targets are the $1820 and $1810 levels.
Silver chart analysis
During the Asian trading session, the price of silver rose to $21.20. After which, we see a minor pullback to $20.92 and a new bullish impulse that brings us back above the $21.00 level. We need a positive consolidation and a break above the $21.20 level for a bullish option.
Then we must stay up there, and with a new bullish impulse to start further growth. Potential higher targets are the $21.40 and $21.60 levels. We need a negative consolidation and pullback to the $20.80 level for a bearish option. Then we would return to the bearish side and turn towards the previous low. Potential lower targets are the $20.60 and $20.40 levels.
