GOLD approaching resistance of a Channel Down
Emerging Channel Down detected on GOLD – 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 2610.54 and it is expected to move to 2641.1525.
Resistance line breached by SILVER
SILVER has broken through the resistance 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 30.9253 may materialize within the next 8 hours.
A potential bearish movement on GOLD
The movement of GOLD towards the support line of a Channel Down 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 […]
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Important price line breached by SILVER
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GOLD is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If GOLD continues in its current trajectory, we could see it […]
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Either a rebound or a breakout imminent on GOLD
GOLD is moving towards a resistance line. Because we have seen it retrace from this level in the past, 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 14 days and may test it again within the next […]