Silver is reclaiming very important resistance and once again bouncing from a LT rising trendline. It could very soon be the time for a major rally, but a good entry opportunity offering now. Tho waiting for a confirmation with price break above ~17.70.
Classic gold when breaking down in a bearish channel . We'll see a nice slide downwards in to the heavy "demand" zone continued with an absorption and then expect a bullish channel formation with a nice move upwards. Rinse and repeat with gold. Of course there is always the chance these support levels dont hold (paired with bearish news) and we get a nasty...
Gold has been moving within this giant bullish wedge for quite some time now and is now attempting to break out.
This could be an amazing opportunity to play a huge rally if price breaks out of this pattern and then pulls back for a retest.
The first major area of resistance awaits near the July '16 high around 1375.
On this weekly chart... GOLD is shown to be in an uptrend (higher highs, higher lows) YTD. The last higher low was made at a well tested support/resistance zone (light orange rectangle). Personally, I would wait for a breakout of the down trend line in place since its high in 2011 before going long, i.e. wait for a confirmation. If GOLD does break out, the...
As expected, GC didn't break through 1220 and went down to 1200 range and fell into the blue box support range. It's likely to to test 1188 directly or went up from 1200-1210 and test down to the next support again.
A possible cypher pattern in the hourly chart. Price is near the top of the regression channel plus near 38.2% fib retracement of the longer time frame. Expecting the highest of 1221 before pulling back to the completion of the pattern.
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
Best regards :)
$USDJPY at a critical juncture medium term. Wkly 100 sma @ 114.75 plus fib resistance @ 114. Downtrend line support @ 108 then 106.65 Fib support. This could affect gold, miners and equities near term as carry trades get unwound.