Gold and Silver May Continue to Rally Massively

Share On Facebook
share on Linkedin

Gold experienced a smooth downwards movement in July 2015. In August, price consolidated for about two weeks before breaking northwards last week. Price consolidated again before the end of last week and in the beginning of this week before breaking northwards again. This week is particularly interesting because Gold was thought of rallying, which is now happening. It is possible that the commodity would continue to rally in spite of consolidations and transient corrections along the way. As long as the support levels at 1110.00 and 1100.00 are not breached to the downside, this forecast would be valid. Since last week, price has made decent gains, and more gains may be made because this bullish signal may hold out till the middle of November 2015. It might even go beyond that.

In the last month and the last few weeks, the movement on Silver is quite similar to that of Gold. Price went upwards significantly last week, and then got corrected in the beginning of this week. However, Silver has gone upwards again – all indication being bullish. There are noteworthy demand levels at 15.0000 and 14.5000, which would try to resist further bearish corrections. Just like Gold, Silver may continue to rally until November 2015. Even bulls may be aided further by Thanksgiving effects in that month.


What Super Traders Don’t Want You To Know: Super Traders

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211026 23:34:31