June 30,2023 #XAUUSD #GOINVESTER #GOLD #SILVER #TRADING
In this article, we will examine the recent price movements of gold and silver, discussing entry and exit points for traders. By analyzing charts and indicators, we aim to provide insights into the potential direction of these precious metals.
Gold Analysis:
Early Charts:
Gold has experienced a sharp drop followed by a strong recovery within a bullish channel.
Resistance at 1930 has proven to be significant.
The bearish channel is still intact, awaiting a breakout above 1913 for a clear direction.
Entry points: Buying entry above 1913, with caution until 1916 levels are surpassed.
Exit points: Sell entry below 1902.
2-Hour Charts:
Gold is trading flat within the support and resistance zones.
Stochastic indicator dropped, MACD shows slight bullish bias, RSI is flat.
Buying entry at 1910, but closely monitor resistance at 1913-1916 levels.
3-Hour Charts:
Gold has fallen back within the channel and shows potential for a recovery.
Expectation of another green candle following the recent green candle.
Stochastic is flat near the top, MACD shows bullish divergence, RSI is almost flat.
Daily Charts:
Candles traded outside Bollinger Bands, indicating a potential reversal.
Reversal confirmation if the candle closes above 1913 levels.
A rise towards 1940-1960 zone is expected, but gold currently lacks bullishness.
Entry points: Buying above 1913, exit at 1930-1940.
Exit points: Sell entry below 1902, with support at 1895.
Silver Analysis:
Early Charts:
Silver has formed support at 2255 and is showing signs of a rise.
Entry point: Buying above 2265, exit at 2280-2290.
Exit point: Selling below 2255.
2-Hour Charts:
Increasing candle size indicates a potential reversal towards 2270-2280 levels.
Stochastic is flat, MACD shows bullish divergence, RSI is positive.
3-Hour Charts:
Silver is trading within a bearish channel, with resistance at 2280.
Stochastic is flat, RSI is looking upwards.
4-Hour Charts:
Third green candle indicates a potential increase in size towards 2280-2300 levels.
Stochastic looking up, MACD willing to converge crossover, RSI looking upwards.
Daily Charts:
Silver shows higher lows and failed to stay below 2220, suggesting bullishness.
Entry point: Buying at 2270, exit at 2280-2290.
Exit point: Selling at 2250, with potential targets at 2040-2020.
Conclusion: While both gold and silver show signs of recovery, caution is advised due to previous bearishness.
Gold needs to break above 1913-1916 levels for a clear reversal, targeting 1930-1940 levels. Silver requires a breakthrough at 2280-2290 for a reversal, with potential resistance at 2322
Disclaimer: The following article is for informational purposes only and should not be considered as financial or investment advice. Trading in gold and silver involves risks, and individuals should conduct their own research and consult with a professional financial advisor before making any investment decisions. The information provided here is based on the analysis of the data provided, and future market movements may vary.
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