SILVER
Let’s start today’s analysis with the silver market. Looking at the H4 interval, we can see that the ongoing upward correction has been a bit smaller than the previous one so far. Should bulls manage to maintain the upward move, $25.60 area will be the first potential target for buyers, it is marked with the 1:1 structure and the 38.2% Fibonacci retracement of the recent downward impulse started in late February. On the other hand, if a downward move is being launched earlier, the area near $24.00 remains the key support to watch.
Silver H4 interval. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appPlease be aware that information and research based on historical data or performance does not guarantee future performance or results. Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk.
GOLD
Gold market has also been enjoying an upward correction recently. Looking at the daily time frame, we can see that the price is trading above the 150-period moving average which acted as a key resistance in the past. Continuation of upward move looks possible. The nearest resistance zone to watch can be found at $1,750 -$1,760. Should bears manage to halt upward move there, gold may resume the downward trend. On the other hand, breaking above the aforementioned resistance would pave the way for a bigger upward move.
GOLD D1 interval. Source: xStation5
Please be aware that information and research based on historical data or performance does not guarantee future performance or results. Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk.
DE30
Last but not least, let's take a look at the German DAX (DE30), which has been trading in a strong upward move recently. In spite of yesterday’s bearish candlestick pattern, which has surfaced at the D1 interval (evening star), the main trend remains upward.. However, if the reversal signal is confirmed and the downward correction starts, the nearest support to watch can be found in the 14,770 pts area marked previous price reactions. In case a break below occurs, a support at 14,150 pts will be at risk. On the other hand should bulls maintain an upward trend, the 15,440 pts area could be the next potential target for buyers (127.2% Fibonacci retracement).
D30 D1 interval. Source: xStation5
Please be aware that information and research based on historical data or performance does not guarantee future performance or results. Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
