Gold And Silver Likely To Break Out

Technical Analyst, Trade signals provider • Aug 4, 2021 at 9:30 AM EDT

Thanks to falling yields, precious metals are looking constructive again.

Gold has rebounded after testing the $1810 support level for the past two days and it looks poised to break its bearish trend line around $1825/30 as it continues to make bullish price action beneath it:

Source: TradingCandles.com and TradingView.com

Silver has already broken from its falling wedge pattern:

Source: TradingCandles.com and TradingView.com

The path of least resistance is clearly to the upside for both metals. Look to buy the dips.

Disclaimer:

Trading leveraged products such as FX, CFDs and Spread Bets carry a high level of risk which means you could lose your capital and is therefore not suitable for all investors. All of this website’s contents and information provided by Fawad Razaqzada elsewhere, such as on telegram and other social channels, including news, opinions, market analyses, trade ideas, trade signals or other information are solely provided as general market commentary, and do not constitute recommendation or investment advice. Please ensure you fully understand the risks involved by reading our disclaimer, terms and policies. Copyright © 2021 Trading Candles