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Gold Silver Technical Analysis For 3rd Dec 2019

Anuj Gupta, DVP, Angel Broking

Gold Technical Analysis

On the daily price chart of gold prices are trading towards down side followed by down side trend line. The Technical prices chart is showing negative trend as prices are forming “lower top lower bottom formation. RSI is showing negative trend and the slop of moving average are also towards down side. Now it has resistance at 38100 – 38200, Support at 37600 – 37500 levels. Looking towards daily negative price chart we recommend sell in gold at 38000 – 38050, sl – 38250, target – 37600 / 37500.

Silver Technical Analysis

On the daily price chart of silver prices are trading towards down side followed by negative candle stick patterns. The Technical prices chart is showing negative trend as prices are forming “lower top lower bottom formation. RSI is showing negative trend and the slop of moving average are also towards down side. Now it has resistance at 44900 – 45000, Support at 44400 – 44300 levels. Looking towards daily negative price chart we recommend sell in silver at 44900 – 45000, sl – 45300, target – 44400 / 44300.

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