Connect with us

Hi, what are you looking for?

Economy

Gold and Silver: New Higher Targets and Prices on Friday

Золото и серебро: Золота отступает в пятницу ниже $2670

Gold and Silver: New Higher Targets and Prices on Friday

  • During this morning’s Asian trading session, the price of gold received support at the $2656 level
  • The price of silver gained new support this morning at the $32.00 level

Gold chart analysis

During this morning’s Asian trading session, the price of gold received support at the $2656 level. From there, a bullish consolidation was initiated to the daily high at $2667. At the moment, we have a small pause there, but we remain still in a bullish consolidation. For growth above $2670, we need a new bullish impulse. Potential higher targets are $2675 and $2680 levels. This week’s previous high was at $2673, and we hope for a new one after the NFP report.

For a bearish option, we need a negative consolidation of the gold price back to $2655. This moves us to this morning’s support, and the pressure increases because we are now below the weekly open price. That will build bearish momentum for a continued pullback to new lower support. Potential lower targets are $2650 and $2645 levels. Additional support for gold at $2645 is the EMA 200 moving average, which has kept us bullish this week.

Gold chart analysis

Silver chart analysis

The price of silver gained new support this morning at the $32.00 level. After that, we saw a bullish consolidation up to the $32.27 level. Our target is to reach the previous weekly high at $32.30 and form a new one. For something like that, we need a new impulse that would take us above. Potential higher targets are $32.40 and $32.50 levels. Last week’s high was at $32.71.

For a bearish option, the price of silver must go back down to the daily open level of $32.00. Then, we need to see a break below to a new daily low. This gives us confirmation of the bearish presence, and we expect to see a pullback to new lower support. Potential lower targets are $31.80 and $31.60 levels. We will test the weekly open price at $31.60. If it does not hold, we will try to look for support in the EMA 200 moving average at $31.50.

Silver chart analysis

The post Gold and Silver: New Higher Targets and Prices on Friday appeared first on FinanceBrokerage.

    You May Also Like

    Editor's Pick

    AwesomeQA Revolutionizes Customer Support with $2.8M ICO Key Points AwesomeQA is launching a token sale with an ERC20 utility token, having already raised $2,800,000,...

    Editor's Pick

    Nio Secures Approval for Third Factory, Boosting EV Capacity Quick Look: Nio’s Expansion: Nio received approval for a third factory in China, aligning its...

    Editor's Pick

    USDCAD and USDCNH: USDCAD remains stable above 1.36700 During this morning’s Asian trading session, USDCAD pulled back to the EMA200 moving average. Today, we...

    Editor's Pick

    Nifty goes to new all-time high again, German 40 recovers The Nifty index continues its bullish trend, climbing to a new all-time high this...



    Disclaimer: Techreportdiversity.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Techreportdiversity.com