Gold and Silver: Gold finds support at the $2010 level

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2023/03/gold-4.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="gold prices" decoding="async" loading="lazy" /></div><h1><b>Gold and Silver: Gold finds support at the $2010 level</b></h1>
<ul>
<li aria-level="1">This week’s gold price movement took place in the $2010-$2040 range.</li>
<li aria-level="1">Monday was negative for the price of silver, lowering it to the $21.91 level.</li>
</ul>
<h2><b>Gold chart analysis</b></h2>
<p>This week’s gold price movement took place in the $2010-$2040 range. In the first part of the week, the price was in the upper part of this channel, trying twice to jump above the $2040 level. Everything ended without success, and on Wednesday, the price collapsed to the $2010 support level. After that, until today, we have seen <a href="https://www.financebrokerage.com/usdchf-is-in-consolidation-and-usdjpy-is-above-146-50/">consolidation</a> in the lower part of the channel under the pressure of the EMA200 moving average.</p>
<p>During the Asian session, the price of gold held above $2020 hoping to see a break above the EMA200. Now, in the EU session, we see a slight bearish consolidation that could trigger a new pullback to the support level. A break below it would lead to the formation of this week’s new low, and thus, we get confirmation of the bearish option. Potential lower targets are $2005 and $2000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-256199 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/FHm66QgC-1024×598.jpg" alt="Gold Chart analysis" width="1024" height="598" /></p>
<h2><b>Silver chart analysis</b></h2>
<p>Monday was negative for the price of silver, lowering it to the $21.91 level. After the received support, the price started a bullish consolidation that continues today. On Wednesday, we broke the resistance in the EMA200 moving average at the $22.70 level, and after that, we climbed to today’s level. This week’s high was formed yesterday at the $23.02 level; since then, we have been moving in the $22.80-$23.00 range.</p>
<p>We have EMA200 support and expect to see a continuation to the bullish side. Potential higher targets are $23.10 and $23.20 levels. We need a pullback below the EMA200 and the $22.60 level for a bearish option. Thus, we would be back under bearish pressure, and the price would begin to retreat to the next lower support. Potential lower targets are $22.50 and $22.40 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-256201 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/D8s6ErEc-1024×598.jpg" alt="Silver Chart Analysis" width="1024" height="598" /></p>
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