Commodities Pair: Silver
Frequency: Daily
Predicted Direction:
(1) Long - Break the Descending Channel (White & Red channel)
(2) Short - Break the Symmetrical Triangles (Blue Triangles)
Frequency: Daily
Predicted Direction:
(1) Long - Break the Descending Channel (White & Red channel)
- Gold and Silver trade higher on the weakness of Dollar. DXY will remain the lower level on the rest of 2017 given that the
concerns over U.S. political risks.
- Increasing risk aversion for investeros due to the geopolitical tension rise in North Korean.
- The outbreak of terrorist attack in Barcelona pushing the risk aversion even higher.
- VIX surged up to 70% last week benefit the rise of gold and silver.
- US and China Trade war giving more uncertain to gold boom.
- Germany's election (Sep, 2017) could be trigger out the next political risks for EU
- Gold has been testing on two previous resistance level in 2017 at 1300 and it broke on 18 Aug. If it break higher on the following weeks then it drives silver into support.
(2) Short - Break the Symmetrical Triangles (Blue Triangles)
- If North Korea geopolitical risks finally resolved in a peaceful or diplomatic way then silver may fall back to the bearish momentum to 15.
- Cryptocurrency become more attractive for investors to hedge against economic uncertainty. Will it replace gold, silver as the new safe haven still need time to prove.