Reversal pattern on SILVER
SILVER moved through the resistance line of a Double Bottom at 30.74416666666667 on the 4 hour chart. This line has been tested a number of times in the past and this breakout could mean an upcoming change from the current trend. It may continue in its current direction toward 32.2111.
Should we expect a breakout or a rebound on GOLD?
GOLD was identified at around 2365.52 having recently rebounded of the support on the 30 Minutes data interval. Ultimately, the price action of the stock has formed a Rising Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 2371.5247 level.
Should we expect a bullish trend on SILVER?
SILVER is once again retesting a key horizontal resistance level at 30.5850. It has tested this level 4 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.
GOLD – resistance line broken at 2024-07-03T11:00:00.000Z
GOLD has breached the resistance line at 2341.6599. It may continue the bullish trend towards 2374.5601, or, it may prove to be yet another test of this level.
SILVER is on the approach
SILVER is about to retest a key horizontal support level near 28.6530. 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.
A final push possible on GOLD
GOLD is moving towards a line of 2337.1299 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 GOLD continues in its current trajectory, we […]
SILVER – getting close to psychological price line
SILVER is moving towards a support 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 15 days and may test it again within the next […]
A potential bullish movement on GOLD
The movement of GOLD towards 2327.6499 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 3 days, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
SILVER – support line broken at 2024-06-25T15:00:00.000Z
The price of SILVER in heading in the direction of 28.5040. Despite the recent breakout through 29.0200 it is possible that it will struggle to gain momentum to the forecast price and move back in the other direction. This has happened many times in the past so watch for a possible bounce back.
GOLD – getting close to support of a Falling Wedge
An emerging Falling Wedge has been detected on GOLD on the 30 Minutes chart. There is a possible move towards 2305.7125 next few candles. Once reaching resistance it may continue its bearish run or reverse back to current price levels.