A final push possible on GOLD
The movement of GOLD towards 2610.3601 price line is yet another test of the line it reached numerous times in the past. We could expect this test to 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 current lines.
Extreme movement on GOLD
GOLD has moved higher by 2.14% from 2606.54 to 2662.26 in the last 3 days.
SILVER – getting close to psychological price line
SILVER is moving towards a key resistance level at 29.8850. 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.
A possible start of a bullish trend on GOLD
GOLD has broken through a resistance line of a Triangle and suggests a possible movement to 2672.7023 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 back […]
GOLD broke through important 2609.5400 price line
The price of GOLD in heading in the direction of 2627.4309. Despite the recent breakout through 2609.5400 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 resistance of a Flag
GOLD is heading towards the resistance line of a Flag 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 could […]
Should we expect a bearish trend on SILVER?
A strong support level has been breached at 29.3900 on the 30 Minutes SILVER chart. Technical Analysis theory forecasts a movement to 29.0058 in the next day.
Confirmed breakout on GOLD 30 Minutes chart
GOLD has broken through a support line. It has touched this line numerous times in the last 5 days. This breakout shows a potential move to 2615.8459 within the next 16 hours. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.
SILVER – getting close to psychological price line
SILVER is heading towards 30.5930 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, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.
Should we expect a breakout or a rebound on GOLD?
A strong resistance level has been identified at 2655.7800 on the 1 hour GOLD chart. GOLD is likely to test it soon.