Bullion
XAUUSD : Review on Various Bull Possiblities.Its been very evident that even the strongest bears went positive since BREXIT on Precious Metals for intermittent rally or pullback from the supercycles as we call.
Everybody would agree that 1300-1310 would serve as strong demand area and resistance from previous tops especially March 2015 highs. The breach woud open the gate to 12XX and bear would take thier chance to push down as much as possible it can. Probably 1250-1211 would be bears targeting for.
On current Daily Chart I see huge range play from 1300-1330 for next whole week and I believe this the last bear week and will make perfect Bull Flag on weekly. We have bottomed the STOCH and RSI hover around 48-50 on daily.
So Huge Sideways possible within range till 27 July, Yellen still might not give green signal to rate hikes in august as statisticians or Economists would treat previous two NFP data as Anomaolies and would wait for more evidence on job reports.
Dovish stand likely to induce rally in all PM and would again try to target previous tops and 1375-1390 Region. I have charted all bull possiblites, if not anyone of those being played, God help the bulls !! because it will dive down so hard that even bear has not imagine.
Good Luck for Next Week
Happy Trading.
Long SILVER1.) Extremely bullish pattern on weekly chart.
2.) Trend lines breached
The direction of crude oil prices feeds directly into global inflation expectations. And rising inflation expectations are bullish for bullion. So fundamentally, precious metals should do well.
Silver has another reason to do so. its demand for electronic components.
sell xag/usd silver spot sl 18.5 tgt 16.5 and belowsell xag/usd silver spot sl 18.5 tgt 16.5 and below
This rally can change your bank statements forever.Buy gold on correction. neckline breakout after correction would be confirmation,
Gold - Bullish FormationGold trades near 5 years low hitting the low of $1073 in the early hours of day. The Bullish Three Drives suggest buying at the current levels with the stop loss of $1060 for the target of $1250.
XAGUSD - Daily Technical ViewSilver continue to trade in this symmetrical triangle and a breakout looks imminent. The biased is for further downside and measuring the height of this triangle (as a means for profit taking measurement) will take us south of 14.50 or more.
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and
www.sharpspixley.com
Bullish divergenceSpot price of silver keeps going down but looking at bullish divergence in momentum, shown with pink lines, this cannot continue forever. At some point price is going to rebound sharply leaving bears feeling a lot of pain. Downside risk is very small compared to huge upside potential.
Buy physical silver not phoney paper derivatives
