FX.co ★ Trading idea for gold and silver

The statements of Jerome Powell yesterday disappointed gold bears, and this can be clearly seen via the price movement during the US session. But before the rally, gold had a false breakout at the October 18 low.

Now, gold has key levels at the top.

Silver, meanwhile, was trading at $ 23 (50% retracement level) before Powell's speech.

It has a huge potential of rising to $ 24.8 - $25.0.

Considering this, traders should take long positions on both assets, with targets on the levels shown in the charts above.

All these are based on Price Action and Stop Hunting strategies.

Good luck and have a nice trading day!