Midday Report
Gold is biased to the downside since the morning, while the metal is still stable above the main support level shown above in pink. Therefore, our weekly expectations remain as they are.
The trading range for this week is among the key support at 1724.00 and key resistance now at 1828.00.
The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.
| Support | 1763.00 | 1754.00 | 1750.00 | 1745.00 | 1740.00 |
| Resistance | 1768.00 | 1772.00 | 1780.00 | 1788.00 | 1794.00 |
| Recommendation | Our weekly expectations remain valid | ||||
Silver
Midday Report
Silver reached the support level at 35.05 and then rebounded to the upside. Therefore, our suggested scenario is activated now and remains valid as long as the metal is stable above 34.65.
The trading range for this week is among the key support at 32.80 and key resistance now at 38.35.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
***New York Candlesticks***
| Support | 35.05 | 34.65 | 34.25 | 33.75 | 33.20 |
| Resistance | 35.75 | 36.20 | 36.80 | 37.25 | 37.80 |
| Recommendation | Our weekly expectations remain valid | ||||
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