• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Gold and silver are making moves towards support levels

by August 28, 2024
written by August 28, 2024

Gold and silver are making moves towards support levels

During this morning’s Asian trading session, the price of gold rose to $2529, a new weekly high
During this morning’s Asian trading session, the price of silver retreated below the $30.00 level

Gold chart analysis

During this morning’s Asian trading session, the price of gold rose to $2529, a new weekly high. After that, a bearish consolidation and a pullback below the $2512 weekly open price followed. In the continuation, the price formed a weekly low at the $2501 level. Pressure is growing on the price of gold to continue its retreat below the EMA 50 moving average and the $2,500 level.

Potential lower targets are $2495 and $2490 levels. For a bullish option, we need a positive consolidation and a return above $2520. Then, gold needs to hold up there to continue the bullish momentum. After that, we expect a test of this morning’s high and the formation of a new one. Potential higher targets are the $2535 and $2540 levels.

 

Silver chart analysis

During this morning’s Asian trading session, the price of silver retreated below the $30.00 level. Support at the weekly open price of $29.80 did not hold back either, but we saw a strong bearish impulse below. The price broke down to $29.30 on the EMA 200 moving average. The decline has been stopped for now, and silver has support here. To return to the bullish side, we need positive consolidation and stabilization of the price above the $29.60 level.

After that, the chances of a further advance to the bullish side increase. Potential higher targets are $29.70 and $29.80 levels. For a bearish option, we need a negative consolidation and a pullback of silver below the EMA 200 moving average. With that, we move to a new weekly low and confirm that we are under a bearish pattern. Potential lower targets are $29.20 and $29.10 levels.

 

The post Gold and silver are making moves towards support levels appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Oil and natural gas: Oil is moving away from the weekly high
next post
NFL owners vote in favor of private equity investment

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Hamas terrorists torture protester to death in Gaza, leave his body on family’s doorstep: report

    March 31, 2025
  • Trump announces newest nominations to lead DOJ, regulate US railroads

    December 22, 2024
  • Byron Donalds urges House GOP leaders to hold vote on Biden impeachment after bombshell report

    August 20, 2024
  • ‘People are stretched’: Average consumer now carries $6,329 in credit card debt

    August 9, 2024
  • Obama WH physician says Biden doc should have performed cognitive test

    June 8, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,285)
  • Investing (634)
  • Stock (936)

Latest Posts

  • SCOOP: Trump admin, OpenAI partner to unleash artificial intelligence on federal government

    August 6, 2025
  • Jerome Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates

    July 17, 2024
  • Bush stays silent on how he will vote in 2024: report

    September 8, 2024

Recent Posts

  • Pope Francis urges Catholic voters to ‘choose the lesser evil’ between Trump and Harris

    September 14, 2024
  • Venezuela blocks X amid escalating tensions between Maduro and Musk

    August 9, 2024
  • ‘Dear God’: Democrats storm out of vote on controversial Trump nominee

    July 17, 2025

Editor’s Pick

  • Max inclusivity: Harris campaign is letting new hires ID themselves with custom pronouns

    August 14, 2024
  • Biden admin slammed for ‘waiting’ to declare genocide in Sudan

    January 11, 2025
  • The change voters seek goes beyond the left-right divide

    July 24, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock