‼Dear friends, the direction of long-term analysis does not change much. (Weekly-Monthly Trends)
But the length of daily and 4-hour trends is very short.
That's why we need to constantly update our short-term analyzes.
Today we will continue our gold and silver analysis.
💸Macroeconomic Overview
FED's hard interest rate hikes, along with precious metals, caused a...
Since the beginning of 2021 Gold/Silver parity making an obvious channel. $87 - $85 area is important support and $100 is the target. Even if parity decreases till $80 we're gonna be still in the channel and we still have chance to go to $100.
Examining the weekly chart, the price has been trading in an upside-down head-to-shoulder or a pinched sideways movement between the $85-60 levels.
Then it broke through this compression zone and started to rise.
There may be small reaction decreases, My guess the price will reach its target in 3-4 months.
We are seeing a super cycle rise that starts at $30 in 2011 and continues to $125 in 2020.
The rise between 2011 and 2020 is a 5-wave rise.
After the completion of Wave 5, we had a sharp drop to the $63 levels, which was the corrective wave A of the 5 Wave drop.
My guess is that the price is currently moving within correction wave B.
I expect this corrective wave...
The gold silver spread is very high, and it feels we may see adjustment to this spread coming weeks.
Strategy is SELL @ 87.50-88.00 and take profit around 81.75.
The indicators flickered. Silver rebounded in the medium term and rose in the last round. I announced the beginning. At present, the model matches perfectly, and a final rise is about to begin. The rally ended and began to short until November December. Let's start our fight.
The XAU/XAG ratio rose to 82-84 but could not exceed this level.
If it falls below the $75 level, it can continue to decline to the $68 level.
In the long run; Even if $68 levels are seen, I think the target is $94.
Pls Follow and Like For Support Us.
Yesterday 4H fell below the effective fractal, and yesterday the daily BBI turned down. The weekly line is likely to turn lower this week. The last few days of the month may fall to a pivot point, suggesting that silver will be stronger than gold next.
The long term trend on the ratio is a bull as the monthly support holds against normal dumps. Gold may be preparing for any stock market crash against the silver will be bullish.
Nice short coming in on a break of the neckline of a #HeadAndShoulder pattern @ 79.80 on the 4 hourly
LUX Algo - Under Sell with a down trend
Autochartist.com - Probability 71% & Quality 8/10 - Target 78.00
My Trade:
Entry: 79.45
Target: 77.90
Time Frame: 3 days
Boom!
@theRaggy
