Important price line breached by SILVER
The breakout of SILVER through the 28.9150 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, SILVER could test 29.4717 within the next 2 days. One should always be cautious before placing a trade, wait for confirmation of the breakout.
GOLD short term bullish trade setup to 2416.3201
GOLD is approaching a resistance line at 2416.3201. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.
SILVER running downward for the last 19 days
For those of you that don’t believe in trends, this may be an opportunity to take advantage of an exceptional 11.5% move on SILVER. The movement has happened over the last 20 days. For those trend followers among you, you may think about riding this possible trend.
Should we expect a breakout or a rebound on SILVER?
A Channel Up pattern was identified on SILVER at 27.911, creating an expectation that it may move to the support line at 27.7732. It may break through that line and continue the bearish trend or it may reverse from that line.
Should we expect a breakout or a rebound on GOLD?
GOLD is approaching the resistance line of a Channel Down. It has touched this line numerous times in the last 18 days. If it tests this line again, it should do so in the next 2 days.
Where is SILVER moving to?
For those of you that don’t believe in trends, this may be an opportunity to take advantage of an exceptional 8.1% move on SILVER. The movement has happened over the last 15 days. For those trend followers among you, you may think about riding this possible trend.
A potential bearish movement on SILVER
SILVER is approaching the support line of a Channel Down. It has touched this line numerous times in the last 14 days. If it tests this line again, it should do so in the next 3 days.
Either a rebound or a breakout imminent on SILVER
SILVER is heading towards the support line of a Falling Wedge and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]
Possible breach of support level by SILVER
SILVER is approaching the support line of a Descending Triangle. It has touched this line numerous times in the last 4 days. If it tests this line again, it should do so in the next 6 hours.
Confirmed breakout on GOLD 4 hour chart
GOLD has broken through the support line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 2413.8275 may materialize within the next 2 days.