Positioning is extremely short both on Gold and Silver!
We are very close to a bullish reversal on both daily and 4H, which may cause similar short squeeze that we saw yesterday in EURUSD!
Daily: - Ichimoku is bearish, but Price losing momentum. Market is very oversold with price far below equilibrium levels. - Since 23/Nov bears have tried few more times to push price even lower, but close below 14 failed 4 times! Thus we have to consider it as a bearish consolidation, with some bullish divergence in haDelta/SMA3 and in EWO. - Heikin-Ashi has some early warning for a bullish reversal and a possible pull back ahead
4H: - Ichimoku neutral with a very thin Kumo above Price. Thin Kumo and flattenning 100 WMA shows despite some attempts to push lower, this mkt on average is just consolidating. - Heikin-Ashi shows initial positive signals! haDelta/SMA3 bullish cross may happen above zero. - Key reversal level is 14,15-14,20
Get ready to enter long! Watch it together with Gold!
Comments
Rupesh003
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NOW RESSITANCE TURN 14.70 ONLY BRAK ABOVE SILVER TARGET AROUND 15.00 OTHERWISE I WILL SHORT ONLY.
Kumowizard
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I closed the long at 14,52 with the top doji-like Heikin-Ashi candle. I saw the resistance ard 14,70 too, and the breakout move was very quick. As the trade was a counter trend swing long against the major daily time frame, I could not resist to take profit after such a quick and nice gain.
Since then I rebought more Gold - You probably saw my buy idea on Twitter, if you follow me there too.