Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Investing

Gold and silver are making moves towards support levels

by August 28, 2024
August 28, 2024
Gold and silver are making moves towards support levels

Gold and silver are making moves towards support levels

During this morning’s Asian trading session, the price of gold rose to $2529, a new weekly high
During this morning’s Asian trading session, the price of silver retreated below the $30.00 level

Gold chart analysis

During this morning’s Asian trading session, the price of gold rose to $2529, a new weekly high. After that, a bearish consolidation and a pullback below the $2512 weekly open price followed. In the continuation, the price formed a weekly low at the $2501 level. Pressure is growing on the price of gold to continue its retreat below the EMA 50 moving average and the $2,500 level.

Potential lower targets are $2495 and $2490 levels. For a bullish option, we need a positive consolidation and a return above $2520. Then, gold needs to hold up there to continue the bullish momentum. After that, we expect a test of this morning’s high and the formation of a new one. Potential higher targets are the $2535 and $2540 levels.

 

Silver chart analysis

During this morning’s Asian trading session, the price of silver retreated below the $30.00 level. Support at the weekly open price of $29.80 did not hold back either, but we saw a strong bearish impulse below. The price broke down to $29.30 on the EMA 200 moving average. The decline has been stopped for now, and silver has support here. To return to the bullish side, we need positive consolidation and stabilization of the price above the $29.60 level.

After that, the chances of a further advance to the bullish side increase. Potential higher targets are $29.70 and $29.80 levels. For a bearish option, we need a negative consolidation and a pullback of silver below the EMA 200 moving average. With that, we move to a new weekly low and confirm that we are under a bearish pattern. Potential lower targets are $29.20 and $29.10 levels.

 

The post Gold and silver are making moves towards support levels appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
The dollar index begins to recover from morning’s support
next post
Oil and natural gas: Oil is moving away from the weekly high

You may also like

SMR Stock Is Plunging as the SEC Demands...

August 14, 2024

SafeMoon continues to move under moving average pressure

August 8, 2024

STLA Stock: Price Forecast and 12-Month Price Target

August 14, 2024

Ethereum price in search of a new support...

August 26, 2024

FOXO Stock: Latest News And Price Forecast

August 29, 2024

Ethereum price has returned to the support zone...

August 19, 2024

Oil and Natural Gas: Oil continues bullish toward...

August 7, 2024

The dollar index could soon fall to a...

August 19, 2024

The dollar index could continue to pull back...

September 30, 2024

Oil Rally Resumes Amid Gap Up; Gas Faces...

November 4, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Iran still wants a nuclear weapon despite ‘serious damage’ from US, Israeli strikes: expert warns

      July 6, 2025
    • Wildfires sweep through forests in drought-hit Syrian coast in major test for new government

      July 6, 2025
    • Dalai Lama marks his 90th birthday as crowds throng his home-in-exile

      July 6, 2025
    • Calls are mounting to ban Germany’s far-right AfD party – despite it being more popular than ever

      July 6, 2025
    • For the first time, Xi is missing a China-backed BRICS summit. Why?

      July 6, 2025
    • Iran’s supreme leader appears in public for first time since start of conflict with Israel

      July 5, 2025

    Categories

    • Business (706)
    • Investing (661)
    • Politics (4,803)
    • World News (3,182)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 WhaleLargeCapital.com | All Rights Reserved