GOLD approaching support of a Head and Shoulders
GOLD is approaching the support line of a Head and Shoulders. It has touched this line numerous times in the last 4 days. If it tests this line again, it should do so in the next 6 hours.
SILVER approaching resistance of a Rising Wedge
SILVER is approaching the resistance line of a Rising Wedge. It has touched this line numerous times in the last 15 days. If it tests this line again, it should do so in the next 3 days.
GOLD – getting close to psychological price line
GOLD 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 3 days and may test it again within the next […]
Breach of important price line imminent by GOLD
GOLD is moving towards a line of 1914.1200 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 approaching resistance of a Ascending Triangle
SILVER is approaching the resistance line of a Ascending Triangle. 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 16 hours.
What’s going on with GOLD?
Those of you that are trend followers are probably eagerly watching GOLD to see if its latest 1.98% move continues. If not, the mean-reversion people out there will be delighted with this exceptionally large 13 hours move.
Either a rebound or a breakout imminent on SILVER
SILVER is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of SILVER could test 21.2405 within the next 9 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.
GOLD has broken through support
GOLD has broken through a support line. It has touched this line at least twice in the last 2 days. This breakout may indicate a potential move to 1826.2583 within the next 5 hours. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before […]
Important price line breached by SILVER
SILVER has broken through 20.1020 which it has tested numerous times in the past. We have seen it retrace from this price in the past. If this new trend persists, SILVER may be heading towards 20.2117 within the next 8 hours.
GOLD – getting close to support of a Falling Wedge
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 8 days and may test it again within the next 2 days.