Both GOLD and SILVER created a short-term bottom this past week, and it looks like they might trade higher moving ahead. There are many signals emerging, which points to the bullish pressure. Both commodities are trading in a range, and once the range is broken, there might be a spike higher moving ahead.
So, I think the best idea would be to wait for a break in both SILVER and GOLD, and once the range resistance is breached we can enter a buy trade.
Technical Analysis
H4– Range trading in GOLD as buyers await for a break. We are waiting for a break above the range resistance to enter a buy trade.
H4– Range trading in SILVER as well. We can enter a buy trade if there is a break above the range resistance.
Entry:
Targets for GOLD: $1120 and $1130
Target for SILVER: $15.20 and $15.40
Stop Loss: Below the last low before entering into a trade.
Video Explanation:
Yours,
Vlad
