It is very natural that the region with GAP creates resistance. This situation ends the 5th wave of the 1st main wave here. Now we hope that the price will move to 0.618 or 0.50, making it the second wave.
I think the main resistance is 15.50. It is not investment advice. To our other analysis of silver you can look our blood has not changed.
Price can make eliott. We are see double bottom.
Here we can see a very clear ABCD formation. The price will likely return from 1,272 or 1,618 of AB or BC. You can follow from twitter and youtube.
Correction A is occurring Diagonal after from five wave. Now, We expect correction B. B correction can make three wave. We can see gartley patern. If the price break yellow downtrend line, price can move up fastly. You can follow from twitter and youtube.
Here we can see a very clear ABCD formation. The price will likely return from 1,272 or 1,618 of AB or BC. You can follow from twitter and youtube.
GBP continues to lose value due to the Brexit process. Now, a 5-wave ending is about to complete the diagonal. We are waiting for the correction of the A wave B, and then the C rise. You can follow from twitter and youtube.
6 minutes ago Considering that oil prices will rise and DXY will retreat, This scenario holds. I add the relevant DXY and PETROL graphics below, carefully review.
I think we are in a flat correction. Now the price is at 618 fibo resistance and has completed the 5th wave, it looks like a bomb to explode. This is a region where buyers and sellers scramble, we understand from candles. Here we have completed the rise of A, next is the fall of B. Also, there is a Quasimodo formation. I add relevant graphics below.
Fall A is completed around $ 22 in the form of a triangular correction. After that, a sharp B rise will begin. It is difficult but we can see the level of $ 98-100 according to the analysis.
Dxy has a head and shoulders formation. Fed reduced interest to 0 points in America. But the dxy is still strong because the US economy is strong. In the future, there will either be a crisis in the US or the European and Asian economies will recover, which will reduce the demand for all kinds of dollars.
It looks like there is an ABCD pattern but at a very low probability it may be 10$. Silver rally begins closely.
I expect the silver-gold index to withdraw from where 786 fibo channels and 1,618 fibonacci intersect.
I'm waiting same of the gold movement for the silver. The 13.83 resistance is broken, more likely to test it and return around 10$.
Price could not complete the 3rd flag.That isn't important. If the price can complete candlestick on the 1655, price can come to 382 or 618 fibo resistance. but I think the Head and Shoulders formation in the previous chart will not be disrupted.
The price made Head and Shoulders formation at 1700 levels. Head and Shoulder formation target is 1625 and this area is very strong. Because this area was be tested three times. I think, price will rebound from 1625. Because trend is very strong.
ABCD pattern was be done by gold price. 1642 is strong resistance so price can rebound on this area. First target is 618 or 382 fibo. Second target is 1625.