Gold is once again back at key support level ahead of Powell's testimony and CPI report. With volatility expected to increase in the second of this trading week, there's a high probability that gold could bounce back to major resistance again.
Time frame: 1H
Length of Trade: 2 Days to 1 week
Entry: Between 1392.00...
The right shoulder is tracing out a higher low, and a higher low than the left shoulder. Stochastics also showed the consolidation on high pattern and stayed embedded. Once 1340 breaks, then onto 1550 area.
As we are writing this report gold is trading at $1280 per ounce however the white metal is still hovering around entry level which is at $15.Today we have seen gold prices to reach up to $1290 however soon after the selling pressure drag the precious metal down. The moderate climb which we have witnessed in the precious metal sector was mostly caused by the...
As we all know when a 20 year trend breaks, it tends to break quickly and harshly. When the Gold/Silver ratio drops that also means Gold and Silver tend to be in a new bull market. This cannot go on for ever but I could go on for one or two more years before a decision needs to be made by both markets.
Good evening traders,
While I don't hold gold, I hold alot of silver. Due to the correlation, lately, you can practically trade silver using a gold chart.
I wanted to point out a few positive things gold has going for it currently.
1) We can see we have a cup and handle forming on the daily, now granted, the length of the handle is not well developed, and we...
As can be seen of the graphs, the ways of development for Silver, Gold and Bitcoin are incredibly alike. The only large difference is that BTC made it in 4 years, while for commodities it took 22 years. As yet Robert Kiyosaki declared - gold and silver are kind of a bubbles. The same can be told about BTC of course, regardless of fact that all three assets can be...
I stumbled on this incredible trendline that is giving support to both the Bitcoin market and the Gold market.
It seems like Bitcoin has been mimicking its bigger brother in order to find support.
Note that there are 5 tests of this trendline and that they occured in both markets!
Test 1: First low signalling the end of the first bear move in the longer bear...