Gold And Silver Price Forecast: Nov 23, 2020

Published 11/23/2020, 04:44 AM
Updated 07/09/2023, 06:31 AM

Gold try shorts at 1875/78 with stops above 1881. A break above here is a buy signal targeting 1888 & selling opportunity at 1892/95. Shorts need stops above 1898. A break higher is a buy signal targeting strong resistance at 1907/09. Shorts need stops above 1911.

Minor support at 1864/62. More important support at the November low at 1850/49. Longs need stops below support at the September low at 1848/47. A break below here is a sell signal initially targeting 1835.

Silver try shorts at 2535/45 with stops above 2455. Our shorts target 2390/85 and perhaps as far as last week’s low at 2360/55. Further losses target 2325/20.

Be ready to buy a break above 2455 targeting 2465/70 & 2500/05.

Trends

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

XAU Chart

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