As You can see an apex which showed bullish absorption was cutted the bearish style, to be tested if it will sustain strength. Now we see a rising wedge with shortening of time in the upper area and no shortening no expension of time at the lower boundaries.
This leads to the conclusion, that gold is sold and silver is bought.
Silver and copper are...
There is more than one way to skin a snake.
Not only price can hurt you... Time can hurt you too!
How about some up and down action for 3 to 5 years that goes no where? Like shacking the Jar and angering the ants so that they loose faith and confidence, so when the rally really actually starts they won't believe it!
Maybe it got to easy to buy and hold for 2 to...
Preferred direction: SELL
Comment: Before the Fed meeting, silver is still considered short, but at the moment there is no entry point. The best option would be to enter through pending orders before the Fed meeting. We highlight two login scenarios. The main one ( scenario №1 ) assumes entry after the formation of a false breakout at the level of 23.32250...
Preferred direction: SELL
Comment: Further declines are also expected for silver. Previously, we indicated two options for a sell transaction on this instrument. And about the script now in work.
The trade has already been moved to breakeven and even part of the profit has been fixed. At the moment, one can consider short-term trades also in the direction of...
Momentum at low levels and positive but weakened a bit in the last day. So there may be a few days of consolidation. Price in Descending Channel and it will be breakout if price reach to 2050 with volume. I don't expect a 70% retest of the 2005 level. Then gold will go towards the short-term target of 2130.
Formed Patterns : Descending Channel
Price Target...
Falling Wedge broke upwards and started major bullish trend on 4 hour chart. This week I expect a big rise in gold and downtrend on DXY to continue which is good for gold. Intermediate-term price target of 2427-2465 has been opened.
Price Target in Intermediate-term (6 weeks-9 months) : $2427-2465
Price Target in Long Term (More than 9 months) : $3000
...
I expect gold will cross 2135 high resistance zone and rise to 2200-2230 levels. Then continues uptrend after pulling back to 2135 levels which is the new strong support zone. 2019-2041 has been tested several times and there is a good support. Direction upward from here. I expect downtrend on DXY to continue which is good for gold.
Formed Patterns : ...
Gold/Silver Ratio will break the 375-day Triangle Pattern soon. There was a false breakout to the upside last week. Price couldn't break the trend line. Gold/Silver Ratio is expected to go down.
Formed Patterns : Shooting Star Candlestick Pattern, Rising Wedge Pattern, Double Top Pattern on the momentum indicator.
Scenario 1 : Gold/Silver Ratio quickly goes...
Hammer pattern has formed in candlestick. Gold/Silver ratio is on top. Silver will most likely break its 665-days Triangle pattern. Now it is time to invest in Silver!
Scenario : Silver will suddenly rise to 27-27.5 levels and begins consolidation at 25.7 levels.
Price Target in Long Term : 44
Support Level : 23.56-23.77
Trend Power : Extremely Bullish
...
Let's keep looking at the US #Dollar again.
Weekly, the RSI is still forming a Positive Divergence.
Daily, TVC:DXY is also forming a Positive Divergence. It's also oversold.
These are the 1st signs of a POSSIBLE turnaround for the currency.
It's still early but those that are open to risk COULD initiate an opening position that could turn out interesting....
TVC:DXY Completely Destroyed the Major Support Level.
Not sure it will be so easy to recuperate like last time. This feels and looks different.
Now, unless they are forced to raise rates again, time will tell.
The US #Dollar will likely break the 100 level & test 99.
Positive RSI Divergence is on the rocks and that is the only decent looking thing in this...
Potential Narratives:
1. The Fed truly pauses and starts to ease, creating easier money conditions, money printing
2. Election year may be bullish for assets, metals have lagged
3. De-dollarizing theme globally is favorable for metals
4. More global conflicts potentially could cause more US debt, which favors metals
5. Weakness in the economy can cause metals to...
On December 22nd, there was a change in the Zodiac sign which revealed the manipulative tactics of the market makers. They artificially inflated the market by luring unsuspecting investors into thinking the market was bullish, thereby creating liquidity. However, by the end of the day, their true intentions were exposed as the price of gold sharply dropped,...
I expect a calm and stable week for gold. My weekly closing forecast is $2080-$2100.
While weekly momentum indicator is falling, price is rising. This indicates that gold prices will rise steadily.
Note : Due to the American debt crisis; individual investors, companies and central banks continue to buy gold.
Gold is expected to reach $3000 in long term.
Bullish Pennant Pattern is formed on Gold Chart. Gold will soon exceed $2140 and silver $25.5. However, Silver is likely to break the 1-year Triangle Pattern. If 25.7 is broken, I expect that the price will reach 28 in short term.
Gold is expected to reach $3000 and silver to $45 in long term.
The US #Dollar is trying to base on the daily charts, again.
Not making calls until we feel sure, many times we're posting just to show what we see. We've mentioned many times that calls are CLEAR when they are made.
Breaking under doesn't mean impending doom, look at June how it came back.
However, that is NOT the norm!
Usually a break turns that support level...
Our last few analysis on Silver have played our perfectly.
We identified we were in a 335 flat correction and we caught the wave B move higher. We're expecting 5 subwaves for wave C and we've seen subwave 1 and 2. Looking for subwave 3 now.
Trade Idea:
- Watch for the next wave lower
- Anticipating price to stay below the highs = stops go above the highs
- No...
FOREXCOM:XAUUSD & FXOPEN:XAGUSD are at key Double Fib levels at the same time. We are also in a Change in Trend Window today and with a lot of things at extension levels and with Interest rates in the US coming out tonight its setting up for a volatile day.
I hope this helps.
Enjoy the day.
