SILVER short term bullish trade setup to 32.2120
SILVER is approaching a resistance line at 32.2120. If it hits the resistance line, it may break through this level to continue the bullish trend, or it may turn around back to current levels.
GOLD approaching support of a Channel Up
Emerging Channel Up pattern in its final wave was identified on the GOLD 1 hour chart. After a strong bearish run, we find GOLD heading towards the upper triangle line with a possible resistance at 2686.0167. If the support shows to hold, the Channel Up pattern suggests a rebound back towards current levels.
A potential bearish movement on GOLD
Emerging Flag pattern in its final wave was identified on the GOLD 4 hour chart. After a strong bearish run, we find GOLD heading towards the upper triangle line with a possible resistance at 2668.8209. If the support shows to hold, the Flag pattern suggests a rebound back towards current levels.
SILVER breakout through resistance
SILVER has broken through a line of 31.7240 and suggests a possible movement to 32.5995 within the next 3 days. 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 has broken through support
SILVER has broken through a support line of a Triangle and suggests a possible movement to 30.5782 within the next 15 hours. 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 back […]
A final push possible on GOLD
The movement of GOLD towards 2615.5000 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 23 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current lines.
Should we expect a breakout or a rebound on SILVER?
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 31.386 and it is expected to move to 32.0452.
Breach of important price line imminent by GOLD
GOLD is moving towards a key resistance level at 2671.8301. This is a previously tested level for GOLD. This could be a good trading opportunity, either at the spot price, or after breaching this level.
GOLD approaching resistance of a Channel Down
GOLD is heading towards the resistance line of a Channel Down 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 from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we […]
Possible start of a bullish trend on SILVER
SILVER has broken through 30.6090 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 30.8240 within the next 7 hours.