Bulls- need silver to rally at the uptrendline from the hourly bull flag, form hourly higher low above 17.57, and a higher high above 18.25.
Bears- are looking for a head and shoulders pattern, if it does form we are working on the left shoulder right now we need a breakdown and a successful back test.
Gold has still technically made a lower high just barely so we need bears to prove it on Gold with a lower low below 1669, otherwise we could be looking at a reversal or sideways
Bears- are looking for a head and shoulders pattern, if it does form we are working on the left shoulder right now we need a breakdown and a successful back test.
Gold has still technically made a lower high just barely so we need bears to prove it on Gold with a lower low below 1669, otherwise we could be looking at a reversal or sideways
Note
I meant to say working on the right shoulderNote
Also keep in mind strong dxy has helpedNote
I’m sorry meant to type the weak dxy is significant that they are still having weakness, if dxy has a rally soon that could add to the downside
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.