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HomeTechnical OutlookS&P500, Gold And Silver Technical Outlook For April 03

S&P500, Gold And Silver Technical Outlook For April 03

S&P 500

S&P500 End of Day Chart (SPX)

SPX managed to close above 5200 after testing swing low as mentioned in our previous post, check here if you missed.

 – It was down day for S&P 500 and Nasdaq but overall trend remains up

– Weekly Trend is up

– Daily Trend is still up

– Hourly Trend turned down now

– Weekly swing low is around 5180 but if this breaks next support come just below 5160.

Gold Future Reached To 2300 What Now?

– Gold is strong trend but seem overbought zone now

– A small pullback can be expected

– Bond yield currency risk is tail wind for gold!

– Any pull back can be a buying opportunity!

– 2238 should be used as SL for short term trade (In Future)

Silver made the news with 4% gains but at risky stage!

– Silver finally playing catch up rally with Gold

– Strong trend but hitting the multiple resistance zone

– A small pullback can be expected in couple days in this area

– Gold/silver ratio is a bullish sign for silver for near term

– Any pull back can be a buying opportunity for Silver!

– I will be entering for long once its close above 26

Please note this is only an opinion and not financial advice.

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