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Gold and silver: The gold is maintained above $2000

Gold and silver: The gold is maintained above $2000

During the Asian trading session, the price of gold gained support at the $1990 level and started a new bullish impulse.
The price of silver continues to move around the $25.00 level.

Gold chart analysis

During the Asian trading session, the price of gold gained support at the $1990 level and started a new bullish impulse. The price soon crossed above the $2000 level and formed a new today high at the $2008 level. We are maintaining that level before going back to the bullish side. Potential higher targets are $2012 and $2022 levels. We need a negative consolidation and price pullback to the $1990 level for a bearish option. We have additional support there in the EMA50 moving average, and we need a break below if we want to see the continuation of the bearish option. Potential lower targets are the $1980-$1975 level.

Silver chart analysis

The price of silver continues to move around the $25.00 level. We managed to maintain around that level but failed to make a more concrete breakthrough for a bullish continuation. If we were to do that, the potential higher targets would be the $25.30 and $25.40 levels. We need a negative consolidation first and a drop to the $24.80 support level for a bearish option. Then we need a breakout below to continue the decline. Potential lower targets are the $24.70 and $24.60 levels. And greater and stronger support awaits us around the $24.40 level in the EMA50 moving average.

The post Gold and silver: The gold is maintained above $2000 appeared first on FinanceBrokerage.

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