Some interesting historical data on the price of Silver back from 2002- 2003 similar to what we 've seen happening for the last couple of weeks.
Blue line 50 MA
Yellow line 100 MA
Red line 200 MA
time frame weekly
Green circle 50 MA 100 MA golden cross on the weekly ,
Yellow circle 50 MA 200 MA golden cross on the weekly ,
Similarities with today's price...
Okay guys, bit of a confusing one but on the daily chart gold has been travelling in a horizontal channel marked out with the blue rectangles, we recently saw a move from bottom to top and as it was it formed an ascending channel, we saw a false breakout of the channel to the upside at the top of the channel however it dropped back into the channel.
As of now...
Gold has been travelling in a very large ascending channel however it broke out to the downside, came back up to retest the channel at the 0.618 of the impulse wave and now price has broken out to the downside of the ascending trend line it was travelling above to retest the channel.
price is now going up to the 0.618 of the retest move to retest the trend line...