Previous analysis… https://analysis.tfxi.sc/2021/10/21/triumphfx-gold-silver-update-october-november-december-2021/
GOLD – XAUUSD – Daily & Weekly Charts
As suggested in our last XAUUSD analysis, GOLD found resistance around the diagonal resistance area and has been moving sideways.
The weekly time-frame is signalling market indecision – price has been moving sideways and the weekly moving averages are tight and also moving sideways. XAUUSD is currently ranging between 1705 and 1915.
On the daily time-frame, price is also indecisive – GOLD is very choppy and has been moving sideways. The daily moving averages confirm the current indecision – they have been crossing frequently and are moving sideways.
Trading opportunities may exist around the diagonal resistance area and around any of the identified horizontal levels at 1460, 1685, 1705, 1715, 1730, 1830, 1865, 1915, 1960 and 2025.
SILVER – XAGUSD – Daily & Weekly Charts
SILVER has been finding support around the range support area, as suggested in our last GOLD and SILVER analysis.
Price is indecisive, just like GOLD. XAGUSD is ranging between 22.15 and 28.65. The moving averages confirm the market indecision – they are tightening and are moving sideways.
Trading opportunities could exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the downside may find support around 18.70 and 14.00. Trading opportunities could also exist around the daily and weekly moving averages and around the horizontal levels at 21.55, 25.35 and 28.25.
Start trading today with Triumph’s Forex MT4 trading platform – https://www.tfxi.com/