Gold Silver Technicals Review for Week 28 | Asset Trends

Spot traders can trade gold and silver with the ticker XAUUSD(Gold against the US dollar) and XAGUSD(Silver against the US dollar).

Gold

Price at resistance zone

Last week, Gold make a retracement to a strong resistance zone. The surge last week however did not give me confidence to start accumulating gold now. I would only be interested to buy gold if it hits the support zone in orange.

Alternatively, I want price to break above the yellow resistance zone and do a pullback for a safe long.

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Asset Trends Comments: Gold Did hit the Orange support zone and broke above it (1550) and shot up to around 1592 Today.

Read on to discover more

Silver

Broke out of ED channel

Price broke out of ED channel last week. Will look for opportunities to long if price does a throwback to support again. We may see more upside for Silver next week, first resistance level at $38.85 then $42.50.

Final Comments

If you have followed our week 27 technical analysis on Gold & Silver, you will be up at least 100 pips on spot trading for silver.

Without a doubt, using TA to time your market entry can give you bigger reward and higher chance of success.

Take action by learning it today!!

-fxgump.com

Source: http://www.assettrend.com/auag/gold-silver-technicals-review-for-week-28

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