Gold and silver: gold is maintained around $1980
During the Asian trading session, the price of gold rose to resistance at the $1980 level. The price of silver continues to recover after falling to $23.30.Gold chart analysis
During the Asian trading session, the price of gold rose to resistance at the $1980 level. For now, we remain below that level and move in a narrow range of $1970-$1980. We need a break above the $1980 level for the gold price to continue rising. After that, the potential higher targets are the $1990 and $2000 levels.
We need a break below the $1970 level and a continuation of the negative consolidation for a bearish option. Potential lower targets are the $1960 and $1950 levels.
Silver chart analysis
The price of silver continues to recover after falling to $23.30. During the Asian trading session, the price manages to recover and maintain above the $23.60 level. At the beginning of the EU session, the price received support at that level and rose to $23.90 with a bullish impulse.
Silver could soon climb above the $24.00 level if such consolidation continues. Possible additional resistance at that level is the EMA50 moving average. Potential higher targets are the $24.20 and $24.40 levels.
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