Metal
Gold BounceWith gold showing a low resistance path that could pull it back to the low's that we saw in the last week or so. With many analysts offering a much higher price in the upcoming months to years I feel the uptrend will still be respected.
We can see some ranging that could show a pull back to the support around 1700, if a re-test does occur, expect a false breakthrough possibility with sellers out-weighting buyers, from this I believe the trend should bull up back to the resistance. Following a possible break of resistance we could see a big bull pushing these numbers to the 1800 analysed by many, even further if enough momentum is generated from the lows, this may be slowed by some possible accumulation but Gold shows promise to fight to these highs.
USD numbers should help with this with USD being weakened at multiple times last week.
DO NOT TAKE THIS AS GOSPEL, This is my idea that could become possible. Any comments appreciated, new to the game.
GOLD USD D1 Chart Bullish$GOLD recently touched the 1302 levels, which is Week1 support. I expect a quick retracement as RSI is showing OS . If it breaks above 1311 then there is a good chance that we will see 1346 and 1365 again within 2-3 weeks.
This is not any trading advice! Just my own opinion and analysis.
Thanks
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XAG-USD silver 5.28.2020Silver has been in an uptrend since mid-March after a capitulation move. Since then it has been making continuation patterns over and over and moved up very strong and outperformed most of the metals.
Currently, it appears that it's completing another continuation pattern as a symmetrical triangle.
Momentum indicators on mid time frames look good for continuation as well.
If it confirms a break out above the pattern on high volume ( around 17.450) then it can move to 18 - 18.2 over the coming weeks as long as it holds the break out level around 17.150.
It almost offers a 5 to 1 risk to reward trade to take.
MTL/BTC important support level buyHello Traders
The MTL is close to a strong level of support. It is an excellent level to buy for an oscillation trade due to the good probability of reversal.
How to proceed in this opportunity?
There are 2 strategies.
The first and the simplest is to buy the asset now with a stop below the last lower level. This is the easiest strategy, as there is no need to monitor the asset all the time.
The second and most accurate is to wait for a candlestick reversal pattern. This is the most accurate, as this will ensure that you will buy the asset in the right direction.
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SILVER - new impulse wave downAs we predicted in the post of April 16, Silver is developing its downtrend path to newer lows. Minute wave ii has retraced 50% of minute wave i, which can signalise the end of the counter-trend move or just very near for this. The next move will be minute wave iii from Minor wave 3 and because of this we may see good strength down soon. The first stop before continueing down should be at around the most probable target at 13.58. If prices crosse sup 15.51 we may revise this analysis. FOLLOW SKYLINEPRO TO GET UPDATES.