A final push possible on GOLD
GOLD is en route to a very important line that will be a definite deciding factor of what is to come! We may see this trajectory continue to touch and break through 2150.6599, unless it runs out of momentum and pulls back to current levels.
SILVER – support line breached
This trade setup on SILVER is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 24.9087.
Big movement possible on GOLD
GOLD has broken through a support line. It has touched this line numerous times in the last 11 days. This breakout shows a potential move to 2135.1770 within the next 2 days. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.
A potential bullish movement on SILVER
Emerging Rising Wedge pattern in its final wave was identified on the SILVER 1 hour chart. After a strong bullish run, we find SILVER heading towards the upper triangle line with a possible resistance at 25.6624. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.
GOLD – Continuation Chart Pattern – Pennant
GOLD is approaching the resistance line of a Pennant. It has touched this line numerous times in the last 15 days. If it tests this line again, it should do so in the next 2 days.
Support line breached by GOLD
Triangle pattern identified on GOLD has broken through a support level with the price momentum continuing to move in an downward direction. A solid trading opportunity continues with the price expected to reach 2134.0524 in the next 3.
SILVER approaching resistance level
SILVER is moving towards a key resistance level at 24.5460. This is a previously tested level for SILVER. This could be a good trading opportunity, either at the spot price, or after breaching this level.
SILVER – getting close to support of a Triangle
SILVER is approaching the support line of a Triangle. It has touched this line numerous times in the last 6 days. If it tests this line again, it should do so in the next 18 hours.
Either a rebound or a breakout imminent on SILVER
The movement of SILVER towards the resistance line of a Rising Wedge is yet another test of the line it reached numerous times in the past. This line test could happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]
GOLD – Continuation Chart Pattern – Channel Up
Emerging Channel Up detected on GOLD – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 2175.75 and it is expected to move to 2169.9736.