Precious metals markets rebound after the strong sell-off.
Gold
Gold 030226 Daily Chart
Gold attempts to settle above the resistance at $4880 – $4900 as traders use the recent sell-off as an opportunity to increase their long positions at attractive levels.
In case gold settles above $4900, it will move towards the resistance at $5100 – $5120.
Silver
Silver 030226 Daily Chart
Silver rallied towards the resistance at $87.00 – $88.00 as traders bought the dip.
A successful test of the $88.00 level will open the way to the test of the next resistance at $95.00 – $96.00.
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
