The Technicals: The Next Move Looks Bullish but it Needs to Come Sooner Rather than Later

Technical Analysis of Gold and Silver

This analysis attempts to look at different metrics to understand the current momentum in the gold and silver markets. It is meant as an analysis on potential price direction in the very short-term (a few weeks to 1-2 months).

In Q1, the analysis highlighted the break of support in gold and silver of $5000 and $80 as a short-term bearish indicator with more downside risk ahead. That turned out to be another accurate call.

In Q2, the analysis conducted around $4150 mentioned we were nearing the bottom but still had room to move lower. While the full bearish case was not hit, gold did continue lower before a sharp turnaround in August.