Silver has formed a bearish pin bar setup. There is a bit to be desired in this setup, but I think it does set up an opportunity for price to break lower and retest the 14.80 region. In regards to the pin bar, the real body is sitting a little bit high with a little too much bottom wick. I think it weakens the pattern a bit, but it is a fake out none the less...
DXY - weekly, start position in metals. Gold and silver. Hitting resistance of $97.51, RSI was OB. $Nugt $hgu $slv watch for fomc coming up. They might turn hawkish with todays economic data. NFP jobs miss, but unemployment down to 3.8 % and hourly earnings up...Good luck!
Silver appears to be headed back toward its major support at $13.00, from where it will likely bounce and continue in its current consolidation pattern...until it doesn't. Currently trading at $14.09.
Indicators point to a bounce off of low risk entry. Look at all that sell volume that hits like a hammer - smells like opportunity. Hitting the strong support of 15.00 on dying volume. CCI, RSI and strong support are on favorable terms for a low risk long at this position. Banks love dumping those futures to acquire physical at the cheap.
This is my first video on Tradeviews and I'm still learning the software but I wanted to give it a try and share my overall analysis for what you should expect next in gold. GLD GDX GDXJ JNUG NUGT SIL SILJ I share my daily pre-market video each and every day before the market opens on my website .
Our ongoing efforts to dissect these markets and to help educated and inform traders has led us on an exploration path into the general market activities of two leading market indicators; Commodity prices and Transportation Prices. These two core elements of any regional or global economy are usually about 3~6 months ahead of the general markets. When viewing...
I was looking at the daily chart and noticed that the price was catching support along the 200MA. We did this before back in 2016 at right around the same price and time of year. If this support can hold, I think we may get a big breakout beyond resistance. This will be no small feat though. Silver broke below the long standing uptrend support line (blue) and the...
Expect miners to gap lower and rip hgher all session based on pre-market price spike signal I always share!
Take a look at this chart showing how the safe-haven metal platinum has been underperforming and is now at major support. I expect money to flow out of the leader palladium and into platinum over the next few months. See Palladium chart:
Take a look at the chart. Price is forming another blow-off top pattern and reaching its Fibonacci price target. Expect money to flow out of this, and into Platinum for a few months. See Platinum Chart:
Precious metals have been performing very well over the past couple of months, price does not move in a linear fashion so do we careful near term as the risk of a pullback is rising.
The US Dollar is poised to rally back to near $97.50 as this recent downside price swing ends. We believe the US/China trade talks and North Korea deal with result in a strong upside potential for the US Dollar and the US stock market as time progresses. A certain number of industry analysts are starting to announce the recent December 24th lows and subsequent...
Gold's main driver is real interest rates inverting, monetary policy plays a key role in determining the path forward for Gold. In order to figure out the central bank's actions we really need to focus on the business cycle!
Long Strategy: RSI above 50 and Close Price above MA5 Stop Loss: Close Price below MA5 Stop Profit: RSI break up 80 and then break down 80