GOLD and SILVER Chart update

GOLD Enters the long term ascending channel

• First chart shows Four hour time frame with up trend lines. Bulls will remain strong above the blue up trend line.
• 2nd chart shows weekly chart with Fibonacci levels, Price near golden ratio and previous price resistance between 1790 - 1805
• Last chart shows price reentering the long term ascending channel. Price violated the channel on the upside then it broke down below this channel and now price is getting back into this channel which may help gold bulls to continue the steady up trend it has been for the last few years.

SILVER Chart update

 

• Immediate support level for silver between 33.90 - 34.10 level.
• 200 Hour acting as strong support.
• Price hits an important resistance level in Weekly chart. Silver bulls must trade above 38.2% Fib level for targeting higher levels.