GOLD (XAU/USD) & SILVER (XAG/USD) – Buy and Sell Levels - XAG
GOLD (XAU/USD) & SILVER (XAG/USD) – Buy and Sell Levels
XAU/USD & XAG/USD have dropped in value recently but a bounce occurred at crucial levels, on a Bullish Divergence.
The rise is unfolding on both precious metals with what appears to be Leading Diagonals.
Of course, when encountering a Leading Diagonal, one would expect a sharp decline before the next wave would occur, therefore, if a drop would occur in a Zig-Zag pattern, then this could pave the way for the trend to possibly continue with a Rally.
As per the previously posted “Fed December Rate Hike – DXY Technicals – Elliott Wave Analysis” article, the USD indeed got trashed and dropped like a rock. In my personal view, the Dollar Index (DXY) is still looking Bearish.
Recently, I was also paying attention to the Mining Vectors, especially the GDX, which is possibly looking Bullish, should break-out of the upper Channel occur.
The bounce from the lower Channel trend-line was in my radar, hence the reason why I decided to post the “XAGUSD - 2018 Bullish Outlook” article.
XAU/USD & XAG/USD could possibly overshoot a bit and exceed the upper Leading Diagonal converging lines, typical scenario for this type of Structure.
Verdict: short-term Bearish, medium-term Bullish
XAUUSD - SELL Position:
• 1267.00 (moderate) or 1270.00 (conservative) or Market Execution if aggressive
• SL @ 1278.00
• Target – 1249.00
XAUUSD - BUY Position:
• 1249.00
• SL @ 1235.00
• Targets – 1265.00 / 1285.00 / 1304.00
Verdict: short-term Bearish, medium-term Bullish
XAGUSD - SELL Position:
• 16.20 (moderate) or 16.30 (conservative) or Market Execution if aggressive
• SL @ 16.45
• Target – 15.85
XAGUSD - BUY Position:
• Entry @ 15.85
• SL @ 15.60
Targets – 16.20 / 16.60 / 17.00 / 17.50 / 18.00 / 20.00
Many pips ahead!
XAU/USD & XAG/USD have dropped in value recently but a bounce occurred at crucial levels, on a Bullish Divergence.
The rise is unfolding on both precious metals with what appears to be Leading Diagonals.
Of course, when encountering a Leading Diagonal, one would expect a sharp decline before the next wave would occur, therefore, if a drop would occur in a Zig-Zag pattern, then this could pave the way for the trend to possibly continue with a Rally.
As per the previously posted “Fed December Rate Hike – DXY Technicals – Elliott Wave Analysis” article, the USD indeed got trashed and dropped like a rock. In my personal view, the Dollar Index (DXY) is still looking Bearish.
Recently, I was also paying attention to the Mining Vectors, especially the GDX, which is possibly looking Bullish, should break-out of the upper Channel occur.
The bounce from the lower Channel trend-line was in my radar, hence the reason why I decided to post the “XAGUSD - 2018 Bullish Outlook” article.
XAU/USD & XAG/USD could possibly overshoot a bit and exceed the upper Leading Diagonal converging lines, typical scenario for this type of Structure.
Verdict: short-term Bearish, medium-term Bullish
XAUUSD - SELL Position:
• 1267.00 (moderate) or 1270.00 (conservative) or Market Execution if aggressive
• SL @ 1278.00
• Target – 1249.00
XAUUSD - BUY Position:
• 1249.00
• SL @ 1235.00
• Targets – 1265.00 / 1285.00 / 1304.00
Verdict: short-term Bearish, medium-term Bullish
XAGUSD - SELL Position:
• 16.20 (moderate) or 16.30 (conservative) or Market Execution if aggressive
• SL @ 16.45
• Target – 15.85
XAGUSD - BUY Position:
• Entry @ 15.85
• SL @ 15.60
Targets – 16.20 / 16.60 / 17.00 / 17.50 / 18.00 / 20.00
Many pips ahead!
Comment:
DXY:
Comment:
GDX:
Comment:
GDX & DXY Analysis was valid.
XAGUSD started the expected Bullish Impulse:
XAGUSD started the expected Bullish Impulse:
Comment:
Complex Correction expected to begin:
Comment:
Correction complete, more up-side in view:
Comment:
Comment: Correction complete, more up-side in view:
Comment:
Comment:
Very delicate moments for XAG as USD bulls are right around the corner.
Normally, XAG should surprise with another final push towards 17.80 levels.
If that will not occur, then the outlook will be turned to Bearish short-medium-term.
Normally, XAG should surprise with another final push towards 17.80 levels.
If that will not occur, then the outlook will be turned to Bearish short-medium-term.
Trade closed: target reached:
Target Reached!
