Expert Analysis for Gold and Silver Futures Trading
Gold prices moved down to 14521 yesterday, but pulled above 14600 for closing. Gold prices are seen resisting 14650 levels on upside. The ADX has given a negative cross-over and RSI also is seen trending down-side. Thus the bias remains on the downside for the day. One can sell gold at higher levels around 14600, targeting 14450.
Silver prices breached the support at 23800 of the trend line. Now the prices are seen taking Support at the 23150 levels (the earlier two peak), breaching this curtail support can push the Silver prices further downside to 22650 levels. The RSI and MACD are also seen trending downside. Thus one can sell silver on breaching 23150 levels targeting 22850 and 22650 on downside.