Gold's sharp recovery from the low of $1320 supported by volumes at 4-day high on Thursday if followed by a move back above $1334 (upper end of the expanding channel) today would suggest the bearish momentum may have run of steam and could yield a recovery to $1348-1350 levels. Meanwhile, a failure to take out/sustain $1334 could result in choppy to...
Platinum is showing several signs of a peak to place a short with good risk/reward. The CCI is now re entering below 100 after travelling on a highly overbought region. Also, this peak coincides with the upper 0,5 line of the pitchfork. A first target on the lower 0,5 line around the same line of the 0,5 fib. Thanks for your comments.
Gold's retreat from 5-DMA in Asia coupled with bearish 5-DMA and 10-DMA crossover if followed by a day end closing inside the expanding channel formation would strengthen bears and open doors for a slide to $1300 levels over the next week. On the higher side, failure to dip below upper end of the expanding channel could yield a re-test of 5-DMA of $1345,...
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sell xag/usd silver spot sl 18.5 tgt 16.5 and below
sell gold spot xau/usd sl 1310 tgt 1250$
XAU/USD - On the look out for bullish exhaustion so prices can pullback for RHS - Top of the monthly Bollinger band in line with 2015 January high $1307.5 - perhaps resistance there - Another potential resistance stands at the 50 monthly MA which currently trades at $1343 - in line with long term downtrend line - If this trade works out, look to sell in a blow-off...
Watch the lines for a place to jump in.
Watch the lines for a place to jump in.
Watch the lines. It looks like it might be forming a several months long pennant and the two sides (pink lines) of the pennant triangle will converge by 05/31/2016. Watch the lines for decision making.
Coiling within this range since September 2015, lots of potential stored energy in here. The next breakout candle will be big, I'll be expecting at least $15 within the next 2 months. At a time of this extreme bearish positioning by hedge fund in precious metal, you should be long :) www.zerohedge.com A strong temporary bottom is formed at 13.7 for now. Yellen's...
Start adding here. Excellent risk reward at the bottom of the channel and near oversold levels. 2.41% loss at previous lows vs potential 8%/27% gains. ------------------------------------------- For leveraged play on the bounce: Platinum Group Metals LTD
It is worth noting that a rising Bollinger Band in Silver price action seems to suggest another leg down is coming. See the chart as we are highlighting that should price hit the top of the BB, silver retraced heavily and this time might not be so different. Should this play out, we have 15.77 as the potential price target. The RSI also seems to suggest that...
16.53 last 18.00 target 16.125 stop Reasons: 1. Cluster of 5 days where the high is very similar = explosion pattern. 2. Range expansion "UP-bars" on the daily chart highlighted with blue triangles. 3. Range expansion "UP-bar" on the weekly chart 4. Volume building at the 16.50-16.60 level appears to be a breakout level if breached could lead to a...
Platinum could meet strong resistance here - will d price action respect the downtrend line or a bottom is in and prices are ready to rebound higher? watching the 1185 handle and if that breaks then Platinum could go higher as it will trigger an Inverse Head and Shoulder formation. Buy on pullback 1156 or breakout at 1186 target 1226 and 1256 respectively stop...