Thursday, August 20, 2015

Gold and Silver May Continue to Rally Massively

Gold experienced a smooth downwards movement in July 2015. In August, price consolidated for about two weeks before breaking northwards last week. Price consolidated again before the end of last week and in the beginning of this week before breaking northwards again. This week is particularly interesting because Gold was thought of rallying, which is now happening. It is possible that the commodity would continue to rally in spite of consolidations and transient corrections along the way. As long as the support levels at 1110.00 and 1100.00 are not breached to the downside, this forecast would be valid. Since last week, price has made decent gains, and more gains may be made because this bullish signal may hold out till the middle of November 2015. It might even go beyond that.

In the last month and the last few weeks, the movement on Silver is quite similar to that of Gold. Price went upwards significantly last week, and then got corrected in the beginning of this week. However, Silver has gone upwards again – all indication being bullish. There are noteworthy demand levels at 15.0000 and 14.5000, which would try to resist further bearish corrections. Just like Gold, Silver may continue to rally until November 2015. Even bulls may be aided further by Thanksgiving effects in that month.  

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