Here's Where Gold And Silver Stand (Technical Analysis)

Summary

• Both gold and silver are undergoing healthy consolidation phases after their strong rallies.
• Gold became notably extended above its 200-day moving average in April 2024 and October 2024, and in both cases, it entered a healthy consolidation phase to work off those excesses.
• I’m currently watching for a breakout scenario, which would be confirmed by a decisive close above $3,500 on strong volume.
• To confirm that the next leg of silver’s bull market is underway, I’d like to see a decisive breakout above both the $32–$33 resistance zone and the $34–$35 resistance zone.

jansucko

By Jesse Colombo

Both gold and silver are undergoing healthy consolidation phases after their strong rallies, allowing them to reset and work off overbought conditions.

It’s time for an updated look at where things stand. Three weeks ago, I suggested