A potential bearish movement on SILVER
SILVER is about to retest a key horizontal support level near 26.9730. It has tested this level 3 times in the recent past and could simply bounce off like it did last time. However, after this many tries, maybe it’s ready to start a new trend.
SILVER – getting close to psychological price line
SILVER is moving towards a key resistance level at 27.4520. SILVER has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?
GOLD – getting close to support of a Falling Wedge
GOLD is trapped in a Falling 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 resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start […]
SILVER – resistance line broken at 2024-05-03T03:00:00.000Z
SILVER has broken through a resistance line. It has touched this line at least twice in the last 9 days. This breakout may indicate a potential move to 27.0835 within the next 23 hours. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before […]
Possible breach of support level by GOLD
Emerging Falling Wedge detected on GOLD – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 2293.58 and it is expected to move to 2275.4018.
SILVER approaching support level
SILVER is moving towards a line of 26.3400 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 approaches important level of 2334.7800
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 9 days and may test it again within the next […]
Support line breached by SILVER
Head and Shoulders pattern identified on SILVER has broken through a support level with the price momentum continuing to move in an downward direction. A solid trading opportunity continues with the price expected to reach 26.6858 in the next 2.
GOLD – getting close to resistance of a Channel Up
GOLD was identified at around 2341.34 having recently rebounded of the support on the 4 hour data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 2365.2532 level.
Should we expect a breakout or a rebound on SILVER?
SILVER is moving towards a key support level at 26.8570. SILVER has previously tested this level 4 times and on each occasion it has bounced back off this level. Is this finally the time it will break through?