Gold & Silver Looking Good Buy!

Nowadays the equity market is too volatile and this playground only for big players. In this volatile market, it is better to concentrate on commodities like Crude, Gold, Silver, etc. with less risk and less profit. Today we have identified charts of Gold & Silver, let's see chart analysis.

Gold Daily Chart: Before two weeks, we have identified the breakout of Cup & Handle and the next four days it has performed very well. The gold has made lifetime highs around 47327 and then given a small correction. The gold has given bounced back from the previous top i.e. around 45000 and now ready to make new lifetime highs. If we see moving averages of 20, 50, & 200 then the trend is up.

 

We are bullish on Gold and the next resistance is 47500, once it crosses then expecting 50000.

Silver Daily Chart: In mid of March month, Silver has shown a rapid fall from 47300 to 33900 and stopped near-monthly support i.e. around 35500. After this fall silver has made a small green candle and given confirmation of Bullish Harami. From the same levels, silver has shown bounce with oversold RSI. Within the next 4 days, silver has recovered 50% of this drop then again small correction i.e. Higher Low. It has opened a back-to-back gap-up for two days and started trading in higher-high & higher-low trend. If we see second last candle then Dragon Fly Doji has confirmed and that is near the previous top i.e. support. So we are strongly expecting a bounce from this level.

The next resistances are 44500/47300 and more chances of a continuing uptrend.

Telegram: https://t.me/Intraday_King
 
YouTube: Click here
 
Website: http://money4me.in/services.html 

 
-----------------------------------------------------------------------------------------------
Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.
------------------------------------------------------------------------------------------------------------------