If I am right here and in my bullish bias for metals, silver would be the better long now!
DETERMINE WHICH IS THE STRONGEST METAL BETWEEN GOLD AND SILVER ** If the gold silver ratio is in Uptrend and gold & silver in Downtrend: Buy Silver. If the gold silver ratio is in Uptrend and gold&silver in Uptrend: Buy Gold. If the gold silver ratio is in Downtrend and gold&silver in Uptrend: Buy Silver. If the gold silver ratio is in Downtrend and gold&silver...
Silver is trading within a Channel Down on the 4H chart (RSI = 43.954, MACD = -0.061, Highs/Lows = -0.0197) since January 7th. The RSI sequence however is currently posting a short term bullish signal. Our Target Zone is 18.000 - 18.100. If however the dashed Higher Low line breaks then the pattern will most likely complete the Lower Low on a roughly -5% sequence...
This is a break down analysis of Silver (XAGUSD) in the aftermath of key U.S manufacturing news. Fundamental Analysis: - The ISM Manufacturing PMI rose yesterday to 50.9 in January, up from 47.2 a month earlier, marking the first expansion reading since July. This improved risk appetite and is applying selling pressure on Silver. The U.S. manufacturing...
Silver (XAGUSD) is trading within a newly emerged Channel Up on the 1D chart (RSI = 60.617, MACD = 0.050, Highs/Lows = 0.2338) following the October 1st bottom just above the 1D Support Zone. Both the 1D candle action and the RSI sequence resembles and October/ November 2018 fractal which delivered a strong rise once the Channel Up broke. Our advice is to take a...
Trend breakout + if we take a look on the weekly timeframe we see a clear dragonfly doji (bullish sign). Feel free to comment below!
The shakedown of US and Iran crisis and threat of war clearly gave a damaging impact on US Dollar. Investors are worried about the state of world economy and started to accumulate precious metals to protect their wealth against devaluation of Dollar. With a lot of alarming issues happening all around the globe, the demands for precious metals will continue to...
Pattern: Ascending Triangle on 4H. Signal: Bearish after the 1D Resistance is being tested for the 3rd time (possibility for a Triple Top). Target: The 4H Support levels (14.900, 14.760, 14.630).
Pattern: Channel Down on 1D. Signal: Bearish as long as the Lower High sequence holds. Target: 14.400 and if the price bounces back to the resistance then aim at 14.250.
Pattern: Channel Up on 1D. Signal: Bullish as last week the 1D Channel Up made its Higher Low. Target: 16.500 which is the technical Higher High based on the basis difference between HHs.
XAUUSD, GOLD long increased 6k by last week. long% increase 1% while short% decreased 1%. professionals open long in small number while closed short in large number. $index no change in short and long in this week.
XAGUSD, silver trimmed short 6k by last week. long% increased 2%, short% decreased 2%. speculators profit taking by closing positions of both sides, while non-speculators open short.
#xauusd, xauusd, uptrend line support area 1215-1212, price may test support then fly.