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The price of the gold forms a potential downward trend with the likeness of that of April 23, the development of this structure is expected after the breakdown of 1690.06, and the key support level of 1719.90. As for the Silver, we continuously monitor the development of the upward trend of April 21, a continued upward movement is expected after the breakdown of 15.41, and the key level of support at 15.02.
Forecast for April 30:
Analytical review in H1 scale:
The main key levels on the H1 scale of the Gold are: 1797, 1777.08, 1761, 68, 1740, 22, 1719.90, 1709.17, 1690.06, 1680.58, 1670.67 and 1664.35. Here, the price is in correction from the upward structure on April 21. We expect short-term upward movement, as well as consolidation in the range 1709.17 - 1719.90, a breakdown of the latter value will lead to the resumption of the upward trend, the first potential target here is 1740.22.
We expect short-term downward movement in the range of 1690.06 - 1680.58, this is a key support for the upward trend. Its passage at the price will lead to the development of the downward structure of April 23, in this case, the target is 1670.67, in the consolidation range of 1670.67 - 1664.35.
The main trend is the initial conditions for the upward trend of April 21, the stage of deep correction.
Trading recommendations:
Buy: 1709.00 Take profit: 1718.00
Buy: 1721.00 Take profit: 1740.00
Sell: 1690.00 Take profit: 1682.00
Sell: 1678.00 Take profit: 1670.00
The main key levels on the H1 scale of Silver are: 16.01, 15.69, 15.56, 15.41, 15.15, 15.02, and 14.82. Here we follow the development of the ascending structure of April 21. We expect further upward movement after the breakdown of 15.41, in this case, the target for the short-term upward movement, as well as consolidation, will be at the range of 15.56 - 15.69. The level of 16.01 is considered as the potential value for the top, the movement to which is possible after the breakdown of 15.70.
The short-term downward movement is possible in the range of 15.15 - 15.02, the breakdown of the last value will lead to an in-depth correction, here the goal is 14.82, this level is a key support for the upward structure.
The main trend is the upward cycle of April 21.
Trading recommendations:
Buy: 15.41 Take profit: 15.56
Buy: 15.58 Take profit: 15.67
Sell: 15.15 Take profit: 15.03
Sell: 15.00 Take profit: 14.84
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