Where is GOLD moving to?
Due to the rate of consecutive bearish candles on GOLD Daily chart we could be in for a price correction. If not, this trend could be a sign of things to come
Should we expect a breakout or a rebound on GOLD?
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.
SILVER – getting close to support of a Channel Up
SILVER is heading towards the support line of a Channel Up. If this movement continues, the price of SILVER could test 31.4185 within the next 3 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.
GOLD trade outlook at 2024-10-04T03:00:00.000Z until 2024-10-04T03:00:00.000Z
GOLD 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 2685.0076 may materialize within the next 2 days.
Either a rebound or a breakout imminent on SILVER
SILVER is trapped in a Rising Wedge formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start […]
A final push possible on GOLD
A strong support level has been identified at 2623.4199 on the 30 Minutes GOLD chart. GOLD is likely to test it soon.
Rare opportunity on SILVER – extreme bearish movement
SILVER has moved lower by 0.82% from 31.861 to 31.599 in the last 7 hours.
GOLD approaches important level of 2643.5200
GOLD is heading towards 2643.5200 and could reach this point within the next 16 hours. 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 approaching support of a Channel Down
A Channel Down pattern was identified on SILVER at 31.306, creating an expectation that it may move to the support line at 30.4257. It may break through that line and continue the bearish trend or it may reverse from that line.
Breach of important price line imminent by GOLD
GOLD is approaching a resistance line at 2664.3999. 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.