Weekly #Gold (#XAUUSD) & #Silver (#XAGUSD) Price Analysis: 25 April 2022

Posted by Clara Mellor on 22:08 with No comments

 

 Gold (XAUUSD) Prices: Sellers Interrupt Bulls at $1,996 Level

Gold Weekly Price Analysis – April 23

In case bears’ pressure increase, price may break down the support level of $1,915, price may decrease to the low of $1,888 and $1, 868 levels. An increase in the bulls’ momentum may push the price to break up $1,950 resistance level in which it may extend to the high at $1,975 and $1,996 levels.

XAUUSD Market

Key levels:

Resistance levels: $1,950, $1,975, $1,996

Support levels: $1,915, $1,888, $1,868

XAUUSD Long-term Trend: Bearish

Gold is on the bearish movement in daily chart. After the ranging movement that took place within the resistance level of $1,950 and the support level of $1,915 last two weeks. There was a bullish breakout when the bulls gained more pressure to push up the price. The yellow metal increased and tested the resistance level of $1,996. An inverted pin bar candle formed at the same mentioned level which indicate an increase in the bears’ pressure. Since then, price has been decreasing towards $1,915 level.

Gold price is trading below the 9 periods EMA and 21 periods EMA before the weekly market closed. In case bears’ pressure increase, price may break down the support level of $1,915, price may decrease to the low of $1,888 and $1, 868 levels. An increase in the bulls’ momentum may push the price to break up $1,950 resistance level in which it may extend to the high at $1,975 and $1,996 levels.

XAUUSD Medium-term Trend: Bearish

Gold is on the bearish movement in the medium-term outlook. The bullish movement is put on hold at resistance level of $1,996. The bears took over the market and the price decreasing. The former support level of $1,975 and $1,948 has turned to resistance level. The price is targeting $1,915 level. Further price decrease is possible next week.

The two EMAs are separate from each other and the price is trading below the two EMAs indicating bearish momentum. The Relative Strength Index period 14 is found at 33 levels and the signal line pointing down which indicate a sell signal.

Silver (XAGUSD) Price: Bearish Movement Commences at Resistance Level of $26 Level

SILVER Weekly Price Analysis – April 24

Should the bulls opposed the bears at support level of $23, price may reverse and face the resistance levels of $24, $25 and $26. In case the bears push down the price to reach the support level of $23, the price may decrease to the support levels of $22 and $21.

XAGUSD Market

Key Levels:

Resistance levels: $24, $25, $26

Support levels: $23, $22, $21

XAGUSD Long-term trend: Bearish

XAGUSD is bearish on the long-term outlook. The bullish momentum pushed the price to penetrate the resistance level of $24. It increased to test the resistance level of $26. The metal pulled back when it tested the resistance level of $26 on April 18. Before the end of last week market, the metal reversed and retested the support level of $24 and penetrates the level. The price is expose to $23 support level at the moment. Further price declination is possible.

Silver is trading below the 9 periods EMA and 21 periods EMA which indicates that bears’ momentum is increasing in the Silver market. The fast moving Average (9 periods EMA) remains above the slow moving Average (21 periods EMA). Should the bulls opposed the bears at support level of $23, price may reverse and face the resistance levels of $24, $25 and $26. In case the bears push down the price to reach the support level of $23, the price may decrease to the support levels of $22 and $21.

XAGUSD Medium-term Trend: Bearish

XAGUSD is on the bearish movement on 4-hour chart. After the bouncing off of the Silver from the resistance level of $26, the price pulled back and tested $23 level. The bulls gained more pressure and push the price to penetrate the resistance level of $24 and $26 level was tested. Before the end of last week, price decreases and penetrated $24 level downside facing $23 level before market closed.

Silver price is trading below the 9 periods EMA and 21 periods EMA. The Relative Strength Index period 14 is below 26 levels with the signal line displaying a bearish signal.


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