Silver recently broke out of a long-term downtrend, and looks to have strong potential for upside gains in the future. However, it could retrace to the support area between 14.6 and 14.3. Short-term neutral, long-term long.
The S&P 500 has recently been stuck between 2100 and 1830, approximately. The median 1990 level has served as a key support/resistance level. Due to the long-term analysis I did, I think the S&P will soon break the 1830 level.
The S&P 500 is getting quite close to the 50 MA, which has previously been an indicator of a recession. The closest major support level is around 1550, so that's where I think we're off to in the near future
There's a very clear and defined downwards channel on GBP/USD. Most people would short right now, but I'd avoid opening a position right now, especially since we're near a Fib line. We could very well break up and out here, and when we eventually do, I'd advise to long.
We've seen at least 1 clear W pattern and at least 1 clear M pattern recently, I can only assume that the same thing will occur here, especially since it's bouncing perfectly off the Fibs. Short for now, I placed my stop at 1.1 and my close at 1.0845, to be safe. I could probably lower my close to 1.0835 if I ...