Silver's rally that was launched from the PRZ of the bullish Bat I mentioned in my previous analysis is about to hit a major weekly resistance zone that includes two critical elements. 18$ - Major Weekly Structure Zone 19$ - The 200 weeks MA line Time to protect your bullish trades profits and embrace (or trade) for a weekly correction wave. Tomer, The...
Hi there, I believe the gold rally is getting low momentum and its price may drop like stone in water. But as I am a short-term trader I see there in good opportunity to ride last wave heading to a new top. Perhaps I will consider some contracts @ 1345 - 1346 for target @ 1354 and my SL is near 1342. Lets do some calculation: Est. profit = 1354- ((1345+1346)/2)=...
Long term outlook. Now wave 5 starts of (c). Short target around 1.00159 and then long towards 1.23043.
I keep putting these charts to peak people's curiosity. There are many clues out there that point where we might be heading... All you have to do is look back in time... This is more than just about gold and silver. It is about the players in the market and how they feel.
PM bull market is strengthening. Head and shoulders breakout. Cup and handle formation. Short term getting a little too exciting. Probably short to intermediate term pullback.
Instructions on the chart. Enjoy the "politics" and volatility.... GL!
The U.S. dollar went bid following rhetoric from Federal Reserve officials that a potential rate hike could occur in June, following hotter than expected inflation data. However, after posting on pending technical weakness here, the dollar has retreated slightly over the last few days. Price action as traded neatly within a descending channel on the daily chart,...
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DXY just ended its bear cycle taking the shape of a running flat pattern.
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Gold has found support on the daily 21 EMA. This combined with bullish medium and long term momentum and the ADX indicating a weakening bear trend leads to a bullish overall outlook.
The DXY is setting up for a third consecutive denial at the 21 day EMA. With medium term (blue-purple) and long term (red-orange) momentum remaining bullish. Will be looking to long XAUUSD and XAGUSD if price breaks 94.000.
a short break, but Gold/Silver ratio is still at the high level. Nonferrous metals will probably be the key from now on?
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The big direction of this ratio is obviously down, and there are only three ways this ratio can go down: 1. Silver going up and Gold going down; 2. Silver going up more than Gold going up; 3. Gold going down more than Silver going down. #3 is very unlikely and #2 is most likely. Personally, I'm long both metals.