GOLD is on the approach
The price of GOLD in heading back to the support area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.
Possible breach of resistance level by SILVER
Emerging Rising Wedge detected on SILVER – the pattern is an emerging one and has not yet broken through support, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 23.179 and it is expected to move to 23.4559.
GOLD – getting close to resistance of a Channel Up
An emerging Channel Up has been detected on GOLD on the 30 Minutes chart. There is a possible move towards 2042.8672 next few candles. Once reaching support it may continue its bullish run or reverse back to current price levels.
SILVER is on the approach
SILVER is heading towards 23.0910 and could reach this point within the next 3 days. It has tested this line numerous times in the past, and this time could be no different, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
SILVER – Reversal Chart Pattern – Rising Wedge
Emerging Rising Wedge pattern in its final wave was identified on the SILVER 30 Minutes chart. After a strong bullish run, we find SILVER heading towards the upper triangle line with a possible resistance at 23.0548. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.
SILVER – resistance line breached
SILVER has broken through a resistance line of a Channel Down and suggests a possible movement to 23.1162 within the next 3 days. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement […]
Breach of important price line imminent by GOLD
GOLD is moving towards a key support level at 2020.4399. GOLD has previously tested this level 3 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?
Should we expect a breakout or a rebound on SILVER?
SILVER is moving towards a line of 22.1150 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If SILVER continues in its current trajectory, we […]
GOLD approaching important level of 2020.4399
The price of GOLD in heading back to the support area. It is possible that it will struggle to break through it and move back in the other direction. The price may eventually break through, but typically the price retreats from the level a number of times before doing so.
Either a rebound or a breakout imminent on SILVER
SILVER is approaching the resistance line of a Rectangle. 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 3 days.