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Gold And Silver Daily Forecast

By Jason SenCommoditiesApr 08, 2021 04:14AM ET
www.investing.com/analysis/gold-and-silver-daily-forecast-200571885
Gold And Silver Daily Forecast
By Jason Sen   |  Apr 08, 2021 04:14AM ET
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Gold spot topped exactly at strong resistance at 1742/45.

We wrote: Likely to see some profit taking, perhaps as far as 1730/28 today. A perfect call as we bottomed exactly at 1730. Watch these levels again today – we could trade sideways for a while to consolidate gains.

Silver spot hits the most important resistance of the week at 2525/35 & holds here, with a small potential double top likely to adds pressure too the downside at this stage.

Today’s Analysis

Gold hit the next target & strong resistance at 1742/45. We topped exactly here. We bottomed exactly at first support at 1730/28 as predicted and we must watch for a low for the day here again. However a break below 1725 risks a slide to to very strong support at 1920/18. This could be a low for the correction if tested.

An unexpected break above 1745 targets 1755/60.

Silver bounces to strong resistance at 2525/35. Shorts need stops above 2545. A break higher is very positive in the medium term initially targeting 2570/80 then 2610/20.

Failure to beat very strong resistance at 2525/35 targets 2495/90 (we bottomed exactly here yesterday) and probably first support at 2475/70. Watch for a low for the day here but further losses could be seen in to the end of the week.

XAU Chart
XAU Chart

No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

Gold And Silver Daily Forecast
 

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Gold And Silver Daily Forecast

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Comments (2)
manish borana
manish borana Apr 09, 2021 1:37AM ET
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sir can I buy here
manish borana
manish borana Apr 08, 2021 5:20AM ET
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I should buy silver at this stage should I wait........ please reply
phileMon Frank
phileMon Frank Apr 08, 2021 5:20AM ET
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buy
ααѕu ѕσní
ααѕu ѕσní Apr 08, 2021 5:20AM ET
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64100 below silver (weekly) closes.. then 58000 but not below se silver 80000+
 
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