Technical Analysis Post

XAG/USD to Explode?

| 22 October, 2020 at 12:26 GMT

Gold prices slipped this morning after hitting a one-week high last session, as the dollar recovered some lost ground after U.S. fiscal package talks stalled. However, the recent increase in the balance sheet from the FED is likely giving the noble metal more support.

We would also expect Silver to also move much higher as it still has not lost its shine. The recent supportive trend is expected to push silver higher once the stimulus agreement is reached and the dollar depreciates.Should the market break the recent highs at 25.15 we might see the pair quickly moving towards the next resistance at 26.40 and subsequently to 27.30!