Just highlighting key support areas for a potential bounce-failure to bounce those must be treated as resistance then (see purple line) Resistance (see green line) are the very first few to crack before we can even contemplate any sort of reversal.
Break below 1177 all hell let loose to aim for 1155 Need a miracle or something really bad to rally here?
It is worth noting that a rising Bollinger Band in Silver price action seems to suggest another leg down is coming. See the chart as we are highlighting that should price hit the top of the BB, silver retraced heavily and this time might not be so different. Should this play out, we have 15.77 as the potential price target. The RSI also seems to suggest that...
Since the start of 2015, repeated rejection off the 20 WMA confirms that there is no interest for higher gold prices. This also falls into our analysis that the last two years pattern is playing out on Gold prices. Often we see gold prices moved higher in the 1st quarter of the year, followed by setback in the 2nd quarter, but 3rd quarter recovery (which could...
16.53 last 18.00 target 16.125 stop Reasons: 1. Cluster of 5 days where the high is very similar = explosion pattern. 2. Range expansion "UP-bars" on the daily chart highlighted with blue triangles. 3. Range expansion "UP-bar" on the weekly chart 4. Volume building at the 16.50-16.60 level appears to be a breakout level if breached could lead to a...
Platinum could meet strong resistance here - will d price action respect the downtrend line or a bottom is in and prices are ready to rebound higher? watching the 1185 handle and if that breaks then Platinum could go higher as it will trigger an Inverse Head and Shoulder formation. Buy on pullback 1156 or breakout at 1186 target 1226 and 1256 respectively stop...
Here is why I am Bullish Silver in the short term: - still within this 1 hr trend support with higher low - hit resistance at previous high of 16.491 thus pullback - ideal target on this long is 16.63 which is ideal for another resistance - stop at 16.26 (risk 12 points) to make 25 points +/-
Speculative atm but 4 hr RSI is indicating a bearish divergence and stochastic hitting overbought or bullish area for a while. Need a break of 752 to proceed further. Daily Bollinger Band also offer more rooms to head lower and to fill the gap at 740. If trade taken then it will take weeks to materialize.
I'm quite bullish metals, but /SI needs to break and end above the 200dMA of 18.43. It's rejected it four times now which is bearish, but eventually it'll surpass it and that's when you should enter long. I'd hold off being long or short as you never know what will happen tomorrow. Watch Wednesday's FOMC meeting to perhaps be the catalyst that pushes it above 18.43.