Today, during the Asian session, silver prices grow moderately, continuing the development of yesterday's correctional impulse. However, the instrument is still near local lows of August 7 around 16.50.
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The pair may grow.
On the daily chart, an upward trend forms as the wave of the higher level C of (B), within which the local correction iv of C ended. Now, the formation of the fifth wave v of C has begun, within which the first wave of the lower level (i) of v is developing. If the assumption is correct, the pair will grow to the levels of 1517.74–1557.48. In this scenario, critical stop loss level is 1449.75.
Gold prices are stable during today’s Asian session, trading near 1475.00. Gold quotes have changed little recently since investors expect the situation to develop in a trade conflict between the United States and China.
For the second month, the instrument has been trading within the range 17.18–16.79 ([4/8]–[2/8]), in the lower part of the central channel of Murrey. On the eve, the price fell to the lower border of the range and may continue to decline to the levels of 16.40 ([2/8]) and 16.01 ([1/8]). Otherwise, the course will return to the area of 17.18.
Gold prices are stable during today’s Asian session, consolidating near local highs (1481.44), updated the day before. The growth of quotations yesterday was facilitated by investors' flight from risks, after the United States introduced higher tariffs on imports of steel and aluminum from Brazil and Argentina.