A potential bearish movement on GOLD
GOLD is approaching the support line of a Channel Down. It has touched this line numerous times in the last 5 days. If it tests this line again, it should do so in the next 12 hours.
SILVER approaching support of a Channel Down
SILVER is heading towards the support line of a Channel Down and could reach this point within the next 6 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]
Huge movement on SILVER, did you miss it?
A movement of 3.68% over 3 days on SILVER doesn’t go unnoticed. You may start considering where it’s heading next, a continuation of the current downward trend, or a reversal in the previous direction.
GOLD is on the approach
GOLD is heading towards 2493.6599 and could reach this point within the next 2 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.
Breach of important price line imminent by SILVER
The price of SILVER in heading back to the resistance 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.
GOLD – getting close to resistance of a Ascending Triangle
The movement of GOLD towards the resistance line of a Ascending Triangle is yet another test of the line it reached numerous times in the past. This line test could happen in the next 3 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to […]
Rising Wedge breakout on SILVER
SILVER has broken through a support line of a Rising Wedge and suggests a possible movement to 28.4683 within the next 4 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 […]
GOLD – resistance line broken at 2024-08-27T20:00:00.000Z
GOLD has broken through a resistance line. It has touched this line numerous times in the last 7 days. This breakout shows a potential move to 2540.5640 within the next 20 hours. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.
Should we expect a breakout or a rebound on SILVER?
SILVER is approaching the resistance line of a Rising Wedge. It has touched this line numerous times in the last 6 days. If it tests this line again, it should do so in the next 2 days.
Will GOLD have enough momentum to break resistance?
A Rising Wedge pattern was identified on GOLD at 2520.91, creating an expectation that it may move to the resistance line at 2529.9539. It may break through that line and continue the bullish trend or it may reverse from that line.