Gold and Silver Forecast September 11, 2020

by birtanpublished on October 5, 2020

from daily forex this is chris taking a look at the gold and silver markets you can see gold has smashed into this little short-term downtrend line that i have on the chart um kind of been trading here between 1900 and 2000 maybe about a 20 dollar buffer um right around those areas and now the question is are we in a rectangle or are we in a triangle don't really know until it makes itself obvious but obviously there's a lot of pressure in the market we are compressing

And that's really i guess the point of pointing all of that out overall though i do think that the market will find a reason to uh break higher but if it doesn't then 1800 is an area where i'd expect buyers to jump into over here silver hammer hammer light candle shooting star i think this dictates that we're probably going to be in this range between 26 and 28 for a while breaking above 28 opens up the door to 29 breaking below 26 opens up a move down towards the 50-day

Ema and the 25 level pay attention to the us dollar it will have a significant effect on both of these markets

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