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Goldlongterm bull market trend still in tact.
Title says it all.
So Gold broke the upward trend line it has been in since 2016. Now the price now has two options.
Perform a dramatic bounce above 1250 and stay above the trendline and recommence its upward trend.
Or more likely bounce and touch just below the trendline and test another fibonacci retracement line down lower.
It appears to be more likely the re-emergence of ...
Downward point triangle indicates downward pressure, followed by a reversal in trend and a large upward correction.
Similiar longer term pattern in playing out with large downward pressure, followed by a reveral in trend and large upward correction possible to follow?
However first Gold must not break the upward supporting trendline otherwise this idea is void. ...
Gold must hold here otherwise the bull market rally will be cut short and we will have to wait slightly longer for the re-emergence of the new bull market.
Self-explanatory chart and indicators. Gold to break above $1400 and stay there this time?
Simply looking very overbought and toppy with MACD and RSI indicating DXY is most overbought since early 2017 and therefore indicating a correction downwards is due. FED pausing on rate hikes would accelerate this dramatically lower.
GBP USD to go dramatically lower unless Brexit breakthrough emerges.
Silver looks to be breaking out from its short term downtrend. This will have long term ramifications on the gold and silver bull run. Expect much higher prices for both Gold and Silver by year end. Silver especially will be very volatile. Load up on silver miners as they will benefit the most from this.
Gold should break this horizontal triangle formation and break through resistance at 1360 in order to maintain that Gold USD is on a bull run. Otherwise look down below.
I am more inclined to think this will head upwards however.
Gold/Silver ratio looks to be topping out against strong resistance levels. This should see the trend reverse quite sharply as Silver is incredibly volatile. Should therefore see much higher silver prices in the latter stages of 2018.
Standard bubble chart patterns indicate by the end of 2018 you'll see BTCUSD trading at around $500.
USD/JPY has been trading inversely to Gold since 2013. The trend appears to be reversing. If we see a drop in USD/JPY and also in the USD at the same time the Gold price should rally quite strongly.
Head shoulders pattern indicating downside potential, but furthermore it would also break a long term resistance level. This would confirm a bear market in the dollar and give a strong rally to gold and silver prices.
Break below support line would indicate bear market in the dollar. Gold should therefore outperform to the upside.
MACD reversing, RSI reversing and volume is lessening leaning more towards selling than buying. Top indicated?
Break of long term down trend line with continued support for gold. Rally should be expected once resistance line is broken in 2018.