16.55 is a major support, while this level is not broken, the Midterm wave will be uptrend.
While the RSI support #1 at 48 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 15.95 on 08/01/2019, so more gains to resistance(s) 17.20, 18.10 and more heights is expected.
Hello dear TradingView Community, hope you're all doing well and having a good rest of your weekend. Usually my greeting right now would be 'Hello dear crypto friends', but that's not how the story began.
In this special analysis today, I'm going to show you at what crucial stage Gold currently is.
For this we're going to travel back in time, when Gold was still...
Hello dear precious metals friends, hope you're doing well guys! ;)
Gold has a perfect Bull Flag EQ range ongoing currently on the 4H chart. For the case we see a short break, we will have the previous highs of $1,450, now potentally turned into an S&R zone, or of course, we could look to build higher Lows even prior to that.
For the case of a bullish breakout,...
You can see the battle over the blue dashed trend-line. This is an important trend-line from the weekly chart.
A daily close above this line would suggest a bullish breakout. $17.50 (previous high would be the next resistance)
Will post a weekly chart in the comments to show the trend-line I'm referring to.
DXY hitting resistance so I expect a move higher. ...
XAG price hit weekly R1, expected a retrace to weekly S1 which is also the 20EMA and also between the 50 fib and 38 fib ($16.75 and $16.55) level. Long at 16.60 with a target of 17.55 at the weekly R1.
As a month earlier (look update from July, 17 in my telegram channel), I suppose to see silver above the turquoise level (21.3) on 1D timeframe. On hours timeframes a deep correction in wave (iv) may have matured, after which the uptrend to the area indicated above will resume.
15.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.
The RSI bounced from the support #1 at 48 and it prevented price from more losses.
A trough is formed in daily chart at 14.89 on 07/05/2019, so more gains to resistance(s) 16.20, 17.20, 18.10 and more heights is expected.
Silver broke above an important trend-line on the weekly chart with an impressive move in the Asian session.
15 min chart showing a re-test of this level. Will post a related chart.
Looking for silver to go much higher in the near future.