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- The value of gold was steady yesterday and moved within the vary of $1770-1780.
- The silver value decline stopped this morning on the $22.60 level.
Gold chart evaluation
The value of gold was steady yesterday and moved within the vary of $1770-1780. At the moment we may see a extra concrete break above $1780 as the value of gold has initiated the primary bullish impulse. To proceed, we’d like a optimistic consolidation and a transfer towards the $1790 degree. If we succeed on this, the value may proceed to get better and begin a extra particular bullish development.
Potential increased targets are the $1800 and $1810 ranges. We’d like a unfavorable consolidation and a value drop beneath the $1770 degree for a bearish possibility. Extra assist in that zone is a smaller development line. A break beneath would result in a possible continuation of the gold value decline. Potential decrease targets are $1760 and $1750 ranges.
Silver chart evaluation
The silver value decline stopped this morning on the $22.60 degree. The value finds new assist there and recovers with a bullish impulse to the $22.86 degree. To proceed the bullish possibility, we’d like a optimistic consolidation and a transfer above the $23.00 degree. Then we have to keep up there with a view to provoke additional value restoration with a brand new bullish impulse.
Potential increased targets are the $23.20 and $23.40 ranges. For a bearish possibility, we’d like a unfavorable consolidation and a drop beneath at the moment’s assist degree of $22.60. Extra assist at that degree is within the decrease development line. Potential decrease targets if we fail to carry at this degree are $22.20 and $22.00.
BONUS VIDEO: Weekly information abstract from the markets
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