Silver is now almost at the bottom of the channel and touched the Daily 200 EMA. With a daily bullish divergence I am buying $16.5 for TP1= $17 & TP2=17.5. SL=16.1
Gold consolidated for third straight week yet again ending above the support with minor gains of less than $2 in a holiday thinned week. As we enter into the final month of the year, much will depend upon year end positioning rather than outright technical or fundamentals though in December important events lined up starting from Election in U.K to fresh tariffs...
In general, Monday began quite peacefully. China has been non-aggressive in its response to Trump who has signed into law a bill that supports pro-democracy protesters in Hong Kong. And it seemed that we were waiting for another boring day. However, Trump once again showed why we prefer the sale of the dollar for a quite long time. He began the day by accusing...
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All description on the chart. Please, don't forget to like and follow. Thank you.
All description on the chart. Please, don't forget to like and follow. Thank you.
We'll how it goes. I'll keep you updated... If you have any questions feel free to ask. Wish you a great week ahead.
Good morning traders As I sit at my desk this morning looking at my pairs I trade I’ve realized the need of “sitting on your hands” For me gold has been a very good example of this. Providing you with a 4H chart we can see that price made 3 drives into the low around 1450.00 . There has been multiple spikes based on trade developments that has just caused the...
Notice the 5 touches of previous resistance marked by the blue arrows. This "strong level" entices people to sell and place their stops just above the level. See how price begins to fall from this level marked at the red arrow? This also draws more sellers into the market; people don't want to miss out; then BOOM! Price breaks the level and wipes out everyone who...
A nice rising wedge pattern is forming on this chart. It would be wise to enter a short on the break of the counter trendline on the weekly chart. The market is largely in a bearish move that can be maintained if enough sellers creep in.
Gold remained in consolidation as it moved between support and resistance posting a negative return of nearly $6. The week was a dull one in terms of fundamental news with movement of yellow metal based majorly on the fluctuations in dollar index which remained low throughout the week excepting the last day rally which pushed down gold for a lower close. With...
We will see how it goes. I will keep you updated.
We will see how it unfolds. I will keep you updated.
Gold recovered after making a fresh low as it ended with gains of just over $9 in a ranged week also defending the support of red diagonal trendline which suggests a near term bottom formation. A lower dollar was the key reason for an upswing the yellow metal prices as risk-on intensified further with indexes making new all time highs. The move may have been just...
Daily Chart Explanation: - Price started its down move from the Major Resistance Zone. - Price made a retracement towards the Middle Resistance Zone. - Now, it should be strong enough to go down towards our targets to the Support Zone first and to the Major Support Zone then. Weekly Vision: Updates coming soon!