Hey guys. Ill keep it short as always.
I have a feeling this gold rally is just getting started... There has been talk of an upcoming global recession and negative interest rates are becoming a regular. Negative rates are also negatively correlated with the price of gold which is bullish for bullion. We will probably see allot of speculative buying because of the...
Hello traders.
Gold had previously entered a potential buy/breakout zone but has not produced confirmation and as far as we can see, has not given another opportunity for long positions.
On the weekly, TD9 coupled with a rejection at the .236 Speed Fan resistance shows a potential retrace. Optimally, a strong trend will test the previous swing low at the 50%...
The commitment of trader reports is showing large commercial short positioning on Gold and Silver.
Gold in particular shows short contracts at all-time highs, this is significant for us to sell Gold on any rallies.
Looking at the Gold chart price is re-testing the double top neckline where we can look for short opportunities.
On Silver, we need to see the price...
I believe gold/silver corrects down about 10.90% before resuming uptrend. Using XAU to track the PM sector.
As you can see, XAU has hit some resistance at the highlighted fib ring and looks to correct down to the starred area. There is quite a bit of confluence there technically speaking and fundamentally as well with that point in time being one week after the...
Silver has a clear cup and handle formation present (and looking to be resolving) on the monthly chart.
Given the price action in silver recently (check out my earlier analysis which predicted this most recent surge as well as the move up in gold in July) it is worth looking at the longer-term trajectory for silver to determine whether we should be selling,...
Silver had some pace compared to Gold, but is now almost done with going up. I am expecting a minor correction from Silver (look at the comment for why)
Switching from silver to gold wouldn't be bad, but waiting for confimation could also be less risky.
GOLD broke out of multi-year resistance in August of 2019
Showing extreme strength
Recently ran into secondary resistance of around $142-$144
If we surpass $144, GOLD can see levels it hasn't seen since 2011
Between 2011-2012, GOLD traded between $150s-$180s.
Asset: XAGUSD ( SILVER )
Sell Stop Entry Price:20.500
Take Profit: 14.00
Stop Loss: 21.500(we will reduce the stop loss points once positions will be more favorable)
Capital risk:$1000
Potential Gain:$6500
Risk/Reward: 1:6.5
During the next crisis you will see silver rise 2000% imo. Last time when dollar was in bear market silver rise 1000% except this next crisis will completely destroy the dollar as the world reserve currency imo.
![XAUUSD: Time to switch Silver to Gold? [XAUUSD / XAGUSD]](https://s3.tradingview.com/c/cRcZRifa_mid.png "Time to switch Silver to Gold? [XAUUSD / XAGUSD]")
