TheBathymetry

TheBathymetry

When 1766 area breaks upwards, we are looking for 1788 area, where we will probably see some consolidation. It is also a pivot level from May16th, so we will see some push back from those who short. The upper Daily Bollinger Band is 1784ish at present, so this will act as resistance. Also just above is the 1800 level, the 10WMA & 50DMA are also converging. In ...

TheBathymetry

The $21.97 + $22.00 price range is potentially an important breakout area. If we have a weekly close above this area, I believe the low will be confirmed and we will begin to head higher. Dollar is peaking at present and heading lower. Fed is not able to hike rates high enough due to the enormous debt laden economy. Also the stock market is still hugely expensive...

TheBathymetry Updated 

A head and shoulders formed on the US10Y Daily chart and the neckline was broken. US10Y is now heading lower which should provide as a push higher for Precious Metals, notably #XAUUSD and #XAGUSD. If US10Y and break 1.52 watch out for a strong push higher both of the Metals. DXY looks weak and has tried to rally repeatedly only to be rejected lower every time. If...

TheBathymetry

The US10Y is breaking down below support levels. This will give Gold's push higher extra impetus. Look for Gold and Silver to break higher as they have range bound recently. 1925, 1960 and eventually above 2000 for Gold. All silver needs is $30 and we will see fireworks. Look to the Miners for Explosive Moves. Enjoy the weeks coming.

TheBathymetry

SILJ HAS BROKEN OUT ABOVE A LONG TERM RESISTANCE DATING BACK TO 2016. WATCH OUT FOR THE COMING EXPLOSIVE GAINS IN SILVER JUNIORS

TheBathymetry

SILJ HAS BROKEN OUT OF THE PENNANT AND IS SITTING JUST BELOW LONG TERM SUPPORT DATING BACK TO 2016. IF IT BREAKS OUT ABOVE ON MONDAY 31ST MAY THEN EXPECT EXPLOSIVE GAINS FOR MTHE SILVER JUNIORS.

TheBathymetry

I believe that XAGUSD has found a bottom and will head higher next week after completing its 6 week backtest. It hit long term support dating back to September 2018 and bounced. It needs to achieve a close above $27.90/$28 to reclaim more upward momentum. Please feel free to share your opinions; for or against, all is good for me.