Should we expect a bearish trend on GOLD?
This trade steup 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 1968.3214.
Either a rebound or a breakout imminent on GOLD
A strong support level has been identified at 1983.2800 on the 15 Minutes GOLD chart. GOLD is likely to test it soon.
SILVER – getting close to support of a Triangle
SILVER is approaching the support line of a Triangle. It has touched this line numerous times in the last 8 days. If it tests this line again, it should do so in the next 23 hours.
Possible breach of resistance level by SILVER
A Triangle pattern was identified on SILVER at 23.057, creating an expectation that it may move to the resistance line at 23.5341. It may break through that line and continue the bullish trend or it may reverse from that line.
SILVER – getting close to psychological price line
SILVER is heading towards a line of 22.6360. If this movement continues, the price of SILVER could test 22.6360 within the next 2 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.
A potential bullish movement on GOLD
The movement of GOLD towards the resistance line of a Rising Wedge 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 […]
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 4 days. If it tests this line again, it should do so in the next 10 hours.
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 2 days and may test it again within the next […]
GOLD approaching resistance of a Rising Wedge
GOLD is approaching the resistance line of a Rising Wedge. 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 2 days.
SILVER broke through important 23.0340 price line
SILVER has broken through a resistance line. It has touched this line numerous times in the last 8 days. This breakout shows a potential move to 23.4181 within the next 2 days. Because we have seen it retrace from this level in the past, one should wait for confirmation of the breakout.