Gold and silver technical analysis leading into the US open

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( Kitco News ) – Gold is still looking positive ahead of the US session and has risen 0.32% in the Asian and EU sessions respectively. Looking at the technicals the price is now stuck in the previous distribution between $1931.9 and $1983.8 per ounce. If the bull run is to continue today or next week then the next resistance at $1983.8 would need to be taken out. Beyond that, the psychological $2K level is next followed by the all-time high.

On the downside, the previous resistance is now the main support area. If this area is broken then the value area at the previous distribution could be support and that stands at $1907.2. Beyond that the consolidation […]

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