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Gold And Silver Daily Forecast

By Jason SenCommoditiesApr 16, 2021 03:13AM ET
Gold And Silver Daily Forecast
By Jason Sen   |  Apr 16, 2021 03:13AM ET
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Gold spot we wrote: holding above 1740 keeps the outlook positive re-targeting minor resistance at 1746/48. A break above 1750 meets strong resistance at 1758/62. Shorts need stops above 1765.

We broke higher to 1769 – bulls need to hold prices above first support at 1760/57 now.

Silver spot beat resistance at 2560/70 but missed the next target of 2610/20 by 11 pips.

Today’s Analysis

Gold bulls regain control. First support at 1760/57 but below here can target strong support at 1749/46. Longs need stops below 1741.

A break above 1770 targets 1781/84. Watch for a high for the day. A break higher targets 1792/96.

Silver on the way to the next target of 2610/20. We should struggle to beat this level with a high for the morning session likely. However a break above 2630 targets 2650/60, perhaps as far as 2685/95.

First support at 2555/45 could see a low for the day. Further strong support at 2520/10 but longs need stops below 2505.

Gold Chart
Gold Chart

Disclaimer: No representation or warranty is made as to the accuracy or comple toteness 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 (1)
Imran Wattoo
Imran Wattoo Apr 16, 2021 5:52AM ET
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v nice
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