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Traders Sérios

This trade setup on GOLD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 2445.1249.

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 7 days and may test it again within the next 2 days.

SILVER is heading towards 28.6900 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.

The movement of GOLD towards 2483.6899 price line is yet another test of the line it reached numerous times in the past. We could expect this test to happen in the next 2 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.

GOLD has experienced an unusual quantity of bearish candles on the Daily timeframe. This is in the 0.95 percentile of movements and so we could see a slight pullback over the next few candles.

GOLD is heading towards a line of 2416.5000. If this movement continues, the price of GOLD could test 2416.5000 within the next 3 days. But don’t be so quick to trade, it has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding.

An emerging Triangle has been detected on SILVER on the 30 Minutes chart. There is a possible move towards 26.7243 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.

The price of SILVER 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.

Emerging Channel Up detected on SILVER – 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 28.934 and it is expected to move to 29.8251.

Emerging Rising Wedge pattern in its final wave was identified on the GOLD 15 Minutes chart. After a strong bullish run, we find GOLD heading towards the upper triangle line with a possible resistance at 2467.5024. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.