This thing looks to coiled and ready for a break out. Which way willl It go? I have no Idea, but it will definitely effect Gold prices so watch it closely.
US Dollar has been very strong, but looks to have broken support recently and will likely fall for a few weeks to around 93.22 to find support on the longer term trend line. The longer term trend is still up but there is short term weakness until the chart shows otherwise.
Platinum like silver is forming a cup and handle on the short to mid term chart. I expect a breakout to $1195 once the handle is complete. Silver is acting very similar to Platinum. Gold had already completed the short to mid term cup nd handle and now is in the process of a long term cup and handle to possibly complete its cup at all $1850 sometime in the next...
Gold has already made a similar move and is now forming a longer scale cup and handle. Silver looks to be completing a shorter term cup and handle for aa possible break out to $23.00. Then there is a possibility of a larger sale cup and handle formation to meet all time highs.
Here is my Macro View on Gold. We see a nice rounding bottoming formation, Very similar to what happened in early 2019 on the mid term start cup and handle that started this Bull Market. These markets move in fractals. This is just the bigger picture. Be careful shorting this Bull. If you think Gold is overextended than the Stock market and real estate need to...
From my last idea silver prices have now bounced off the long term neckline I expect silver to push up to about $20-$21. The upper trendline will act as resistance and I expect the price to hit the upper trend line around $20 and possibly break out too much higher highs but who knows. Anything can happen. But for now higher highs are expected
Silver is testing the long term neckline again as support...Will it Hold?...If not I expect the price to drop toward the $15 dollar level...Possible Megaphone pattern developing...If Silver Holds and has a nice bounce up off of the long term neckline then I expect Silver to continue Upwards towards $21 level...We should find out soon!!!
See broke down out of the falling wedge....Now testing the bottom line as resistance....Further downside coming...Buying opportunity in the next few months.
SRE is overbought....I am betting sort here...
this chart looks dismal...I dont know how much longer they can eep this thing propped up...Im feeling like there needs to be a major correction to get new money into these markets....Its been flat for way too long..Looks like a top has formed...Well see what kind of rabbit they can pull from the hat this time.
Silver has been very volatile....Big moves down and big moves up...I expect more downside to finish the consolidation of wave 4...My target is around $17.00....Possible a little below or above...Keeping my cool...Waiting for the entry point...Silver looks very good here...Nice consolidation so far...
Silver as been riding the resistance of the falling wedge closely..This new of the drone attack on the Saudi Oil Facility pushed money into the safe havens again...Depending on how this situation escalates will determine if the correction in PM's will be short lived...There is always a possible Black Swan to change the outlook and timeline of the markets...With...
Silver historically has retraced hard on big moves up...Usually anywhere between the .618 and .786...But in this scenario I think the .618 will be a little over extended on the drop...I see the price going as low as 16.25....But My target is 16.80...The falling wedge I have posted has only been in play for a day...I need more time to find out if it is going to...
Silver has been a little overbought in the last month...It looks like it is holding support at the bottom trend line of the rising wedge...I expect it to retest the top of the wedge as resistance and then breakdown out of the wedge for a corrective move over the next few weeks or months...The trend is still up, but for now it will continue to consolidate sideways...
Gold broke out of the pennant formed over the last few weeks....This is very bullish and looks like only the beginning of another big move up. This move will be facilitated by extreme volatility brought on by the trade war escalation and tweets over the weekend from DJT....I expect strong resistance at $1600...Buckle up!!!
Silver broke above the long term neckline....I expect the price to move up big on Monday at the open...My first target is $18... Then a consolidation before the next move to $21...This will finish the cup formation...With all the trade tensions and the tweets form DJT over the weekend, I think that there will be extreme volatility in the markets....This will...
Gold has reached $1500 and is now going to pull back a bit...I expect it will blast through $1500 and hit $1600 on the next leg up...This is happening....
Right now Silver is catching a bid...Silver has moved up quick to test the long term neckline as resistance...If it breaks out above, it will have a huge move up, probably to retest the $21 level...If it gets rejected it will likely retest the bottom of the parallel channel as support and have another crack at the neckline later on...If fed lowers rates, its going...