Silver has been trading inside a Falling Wedge since the early September Top (1D RSI = 37.923, MACD = -0.187, Highs/Lows = -0.1939) and is currently on the Lower Low. 1W is turning neutral as the Wedge is close to exhausting its limit. The 1D MA200 is approaching to provide Support.
Based on the 1D RSI and MACD patterns, there are a lot of similarities between...
looks like consolidation on gold proceeds.
1455 - 1460 is the area on my radar,
it looks like the market is forming a bearish flag pattern
and we can expect one more higher low formation and further consolidation within a channel.
Let's see how it unfolds this week!
*for now, I don't have any...
This is a possible bearish scenario for gold to make a double bottom before taking off. The weekly pattern is similar like when it made a double bottom at 1266 before taking off for 1555.
We will get a retrace to 1463 +/- $2, make a double bottom at 1446 (161.8 fibo extension of Friday's candle) and then go to 1491.
• Technical analysis update for the SPDR Gold Shares ETF (GLD).
• Long-term bullish continuation anticipated once current correction is completed.
• Looks like a deeper retracement may come in the near-term, before resumption of the rally.
Following the August 2018 swing low of $111.06, GLD rallied 32.2% to the September 2019 high of $146.82....
La Plata (Silver) en etapa de acumulación desde hace 5 años, en el momento que rompa ese rango el precio va a volar. Con mayor probabilidad la ruptura debería ser hacia arriba.
Los osciladores reseteándose, preveen un movimiento violento.
Para inversores conservadores y con poca paciencia, el momento de compra es a la ruptura del rango.
Gold is consolidating on the 4H chart (ADX = 22.401, CCI = -23.5777) following Wednesday's 1,484 High. This is directly linked with the Nonfarm Payrolls as the market is ranging in anticipation of what the report will show.
However even from a technical perspective this pattern has been previously formed within the very same Channel Up we've been trading in since...
Use this as a guide to develop your setup
Main items we can see on the Daily chart:
a)Using Elliott wave theory, we can see a 1234 count with a 5th wave remaining
b)We can observe a Pennant pattern (4th wave) which is considered a continuation structure
c)The cloned ascending trendline supports the pennant pattern
d)Using Fibonacci Extensions, we forecast a...
we caught very nice profit on gold this week following my trading plan.
yesterday the market has broken and closed above a key structure resistance
and I believe that bulls will push the market even further!
Next target levels are
1492 and 1508
We would like to show you a game...
While Penguins are on the hunt, you can easily join them as well!
It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs.
Targets are marked on the chart as a cross air.
Heart in the box - a place to jump in/out
PIG in the box - places to be aware of a few different...