Silver



Silver moved 60000 to 73000+ level in last 3 month and now its trading near its two month low. Harmonic pattern analysis of daily charts of silver mini future suggests that if Silver sustains below 65000, target will be sub 62000 levels, however, important supports lies between 63900-63100. One more news flow, which can lead fresh upmove in all precious metals including silver & gold anytime, will be escalation of Ukraine Russia war into a global war/world war or use of nuclear weapon. In that case levels to long will be 66300 or support range mentioned above.



Today, while our Indian news channels has already stopped to cover Ukraine Russia war on daily basis, it  seems that Euphoria is almost over and both the precious metals are in cooling mode. 



Gold



In our last post on gold breakout on 22.10.2021 we mentioned our targets of 50000-52000-55000 for short to medium term. Gold tested 55428 on March 8, 2022 completing our targets and created a lower top on daily charts recently. Now gold is trading around 51500-700 and technically fresh selling is advised only on breaking 51000 where a major trendline support exists. Below 51000 targets will be  for 50500-49500 (Risk lovers can short below 51300) .  Long is advised only on sustaining above 52250.  Let's check gold chart. : 




Open Free Demat Accounts in India's top Brokerage Houses