Gold And Silver Forecast - October 19. 2020

Published 10/19/2020, 05:12 AM
Updated 07/09/2023, 06:31 AM

Gold holding below 1899 tests 1-month trend line support at 1890. A break lower tests last week’s low at 1883/82. Be ready to sell a break below to test October’s low and 100-day moving average support at 1873/72. Try longs with stops below 1868. A break lower is a sell signal, initially targeting 1850/48.

Holding above 1904 targets 1913/15. A break above 1917 targets 1923/24 and 1-month trend line resistance at 1926/28. Try shorts with stops above 1932. A break higher is a medium-term buy signal.

Silver topped exactly at minor resistance at 2440/50 but above here targets 2475/85 and 2520/25.

Holding 2440/50 targets 2415/10 with support at 2370/50. A break lower targets 2310/00.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Neutral

Gold Chart

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