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Gold And Silver: Sep 3, 2020 Forecast

By Jason SenCommoditiesSep 03, 2020 07:18AM ET
www.investing.com/analysis/gold--silver-daily-forecast--03-sep-2020-200536280
Gold And Silver: Sep 3, 2020 Forecast
By Jason Sen   |  Sep 03, 2020 07:18AM ET
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Gold trades sideways as expected but breaks best support for today at 1951/1947.

Longs stopped below 1942 for a short term sell signal targeting 1937, 1931 (missed by just a point yesterday), perhaps as far as 1 month trend line support at 1924/22.

Try longs with stops below 1918.

We topped exactly at resistance at 1950/60 overnight. A break above 1970 however would then be more positive targeting 1980, perhaps as far as 2 week trend line resistance at 1987/89.

Silver hits the best buying opportunity for today at 2725/15. Try longs with stops below 2705. A break lower is a sell signal targeting 2650/40.

Longs at 2725/15 target 2760/70. Above 2780 targets 2810, perhaps as far as 2830.

If we continue higher look for 2845/50, before resistance at yesterday’s high of 2883/88.

Trends

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

XAU Chart
XAU Chart

Gold And Silver: Sep 3, 2020 Forecast
 

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Gold And Silver: Sep 3, 2020 Forecast

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Comments (1)
MAA altaf
MAA altaf Sep 03, 2020 8:23AM ET
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Still you giving Buy call ? Sir it looks like bearish.
 
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