Will SILVER have enough momentum to break resistance?
SILVER is approaching the resistance line of a Channel Up. It has touched this line numerous times in the last 3 days. If it tests this line again, it should do so in the next 12 hours.
A potential bullish movement on GOLD
GOLD is moving towards a resistance line. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 16 days and may test it again within the next 3 days.
Should we expect a breakout or a rebound on SILVER?
SILVER is approaching a resistance line at 30.1730. 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.
Will GOLD have enough momentum to break support?
A Channel Up pattern was identified on GOLD at 2664.24, creating an expectation that it may move to the support line at 2649.8399. It may break through that line and continue the bearish trend or it may reverse from that line.
Rising Wedge breakout on SILVER
SILVER has broken through a support line of a Rising Wedge and suggests a possible movement to 30.0429 within the next 2 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 SILVER
SILVER is moving towards a key support level at 29.7400. 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.
Confirmed breakout on SILVER 15 Minutes chart
The price of SILVER in heading in the direction of 30.3550. Despite the recent breakout through 30.1720 it is possible that it will struggle to gain momentum to the forecast price and move back in the other direction. This has happened many times in the past so watch for a possible bounce back.
GOLD approaching important bearish key level
GOLD is moving towards a key support level at 2631.0200. GOLD has previously tested this level 6 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?
Will GOLD have enough momentum to break resistance?
Emerging Channel Up pattern in its final wave was identified on the GOLD 4 hour chart. After a strong bullish run, we find GOLD heading towards the upper triangle line with a possible resistance at 2686.4897. If the resistance shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
A potential bullish movement on SILVER
A strong resistance level has been identified at 29.8910 on the 1 hour SILVER chart. SILVER is likely to test it soon.