Gold's trading range and silver's long-term uptrend offer differing outlooks for Q3 but the potential for both to consolidate and trade in a sideways manner remains constructive
Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.36% 🇨🇦CAD: 0.16...has been stuck in a well-defined daily range with neither buyers or sellers able to take control of price action. The dailyin the weeks ahead. Gold’s range and Silver’s trend both remain in place and may offer reliable set-ups for Q3.
Silver is at an interesting point on the daily chart, continuing a multi-month pattern of higher-lows and higher-highs while also testing trend support. If trend support fails, then Silver may become trapped between $25.93/oz. and $29.80/oz. and start to build a range like gold. The CCI indicator is in neutral territory – Silver is neither overbought or oversold – while only the 20-day sma is in the way of higher prices.
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