A possible start of a bullish trend on GOLD
GOLD has broken through the resistance line of a Triangle technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 2 days and suggests a possible target level to […]
Should we expect a breakout or a rebound on SILVER?
SILVER is heading towards 29.9320 and could reach this point within the next 3 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.
A potential bearish movement on GOLD
GOLD is heading towards the support line of a Channel Up. If this movement continues, the price of GOLD could test 2763.9731 within the next 2 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 – support line broken at 2025-01-23T10:15:00.000Z
GOLD has broken through a line of 2750.3799 and suggests a possible movement to 2738.9189 within the next 5 hours. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back […]
SILVER – resistance line broken at 2025-01-22T06:30:00.000Z
SILVER is once again retesting a key horizontal resistance level at 30.8770. It has tested this level 5 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.
Either a rebound or a breakout imminent on GOLD
Emerging Rising 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 2719.04 and it is expected to move to 2710.6757.
Will SILVER have enough momentum to break resistance?
SILVER is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of SILVER could test 31.1346 within the next 2 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.
Either a rebound or a breakout imminent on GOLD
A Channel Up pattern was identified on GOLD at 2707.2, creating an expectation that it may move to the resistance line at 2743.6332. It may break through that line and continue the bullish trend or it may reverse from that line.
Huge movement on SILVER, did you miss it?
Those of you that are trend followers are probably eagerly watching SILVER to see if its latest 2.01% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 2 days move.
Will GOLD have enough momentum to break support?
GOLD is moving towards a support 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 15 days and may test it again within the next 3 days.