Precious metals continue to attract strong buying interest, with gold and silver extending their bullish runs exactly as outlined in recent Lab Notes.
Momentum remains on the bulls’ side, but after another sharp push higher, today’s price action and daily closes will be key in defining the very short-term path forward.
Gold (GC.F): → Gold analysis is reserved for Premium today.
Silver (SI.F): Bullish Scenario Activated, but With Less Momentum
Yesterday’s quote turned out to be a good compass for today’s price action:
„(…) price is hovering between the upper border of last week’s orange H4 consolidation and 9400, which suggests that a daily close above this zone would open the door to:
- 9500 the next big round psychological level (…)”
From today’s point of view, we see that silver also delivered the bullish setup discussed yesterday. The white metal finished Monday above the mentioned levels, activating the pro-growth scenario. As a result, price climbed above our first upside target and printed a new high at 9577 (once again - congrats to those who stayed with the plan and captured the move).
What now?
Unlike gold, silver’s upside move was less dynamic, and bulls struggled to hold the price above 9500 for long. Still, as long as we don’t see an invalidation of the earlier breakout above the orange H4 consolidation, or a daily close back below the previously broken upper border of the purple rising channel, the bullish structure remains intact.
At this point, it’s worth noting that H4 indicators are now deep in overbought territory, increasing the odds that bears may attempt to step back in. Therefore, today’s daily close becomes critical. Whether price holds above or slips back below the highlighted levels will likely determine the direction of the next very short-term move.
Lab Takeaway
Momentum is still with the bulls in both gold and silver, but after another strong upside extension, this is no longer a chase zone. Today is about observation and confirmation, not aggression.
For gold, (…) → reserved for Premium today.
For silver, the key is the daily close relative to the recent breakout levels. In other words, holding above them keeps bulls in the game, slipping back below shifts the very short-term balance.
Stay patient, respect the levels, and let the market show its hand before committing fresh risk.
Anna