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SILVER POINTING ABOVE 30.0! - ELLIOTT WAVEHi Ellioticians, silver is trading choppy and corrective for the last year and a half. We see a possible completed complex correction in II, down from 29.87 high, which means more upside can be expected for silver in the long run. At the moment we are observing an idea of an Elliott wave leading diagonal in blue wave 1 of III, which is a wedge and still needs two more legs to fully develop. Lower ending diagonal line can react as support. In case 21.47 gets broken, then higher degree wave II can still be unfolding as a complex correction. If we get a sharp and impulsive move above the 28.74, 30.0 area, then higher degree wave III can already be in full motion, and more upside underway. Trade well.
OANDA:XAGUSD
by Gravity33
Gold - Flight to save havens!!!!At W2 We monitor Gold in correlation to our overall portfolio and the DXY. We are forecasting a break of the 1hour bullish penant continuation structure, with additional confluence, offered by the fairly steep ascending trend line support. If we are to break the highs impulsively our initial targets will be $1835 per troy ounce. At this particular level we could see a move to the downside, dependant upon how price approaches, if we see an impulsive break, we would like to see a phase of distribution before moving towards the highs of previous recessionary periods circa $2,000
OANDA:XAUUSD
by Phantom_Trading
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