GOLD – getting close to resistance of a Channel Up
GOLD was identified at around 2018.19 having recently rebounded of the support on the 1 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 2036.5720 level.
Either a rebound or a breakout imminent on SILVER
SILVER 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 11 days and may test it again within the next 2 days.
Should we expect a bearish trend on SILVER?
The last 14 4 hour candles on SILVER formed a Triangle pattern and broken out through the pattern lines, indicating a possible bearish movement towards the price level of 22.9026.
Will GOLD have enough momentum to break resistance?
GOLD is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of GOLD could test 2016.3880 within the next 18 hours. 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.
Possible breach of resistance level by SILVER
SILVER is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of SILVER could test 24.5349 within the next 4 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.
Should we expect a breakout or a rebound on GOLD?
Emerging Channel Up 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 1994.31 and it is expected to move to 2011.7286.
GOLD – Reversal Chart Pattern – Channel Up
GOLD is moving towards a resistance 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 […]
A 5 days run-downward on SILVER
SILVER has experienced an exceptionally large amount of consecutive bullish candles to reach a price of 23.7310 in the last 6 days.
Should we expect a breakout or a rebound on GOLD?
GOLD is moving towards a resistance 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 […]
SILVER breakout through support
SILVER has broken through a support line of a Rising Wedge and suggests a possible movement to 23.6527 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 […]