Gold And Silver Outlook Neutral

Published 10/20/2020, 05:02 AM
Updated 07/09/2023, 06:31 AM

Gold 1 month trend line support at 1898/96 today. Longs need stops below 1893. A break lower tests last week’s low at 1883/82. Be ready to sell a break below to test October’s low & 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.

Longs at 1898/96 target 1903/04 and 1913/15 for some profit taking. Try shorts at 1918/20 with stops above 1923. A break higher is a medium term buy signal initially targeting the October high at 1932.

Silver has minor resistance at 2440/50 but above here targets 2475/85 & 2520/25.

Holding 2440/50 targets strong support at 2415/05. Longs need stops below 2395. A break lower target 2360/50 perhaps as far as 2310/00.

Trends

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

XAU Chart

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