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After trending mostly below $18/oz for nearly two months silver has recently broken above that resistance level and is currently testing $18/oz as support. If price can manage to hold above $18/oz and see a continued push higher then $19 will be the next level to watch for resistance. Should price fall back within the $17-$18/oz range then $17 will be the main...

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Gold closed this month at $1,798/oz which makes June 2020 the second highest monthly closing price on record. The all-time highest monthly closing price on record was set at $1,831/oz in August 2011. July could easily break the all-time monthly closing high if current upward momentum holds. The June and May price candles both closed yellow which indicates that...

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Gold closed at $1,780.3/oz this week which is the fourth highest weekly closing price in history. The highest weekly closing price was $1,876/oz set in August 2011 and the second highest weekly close was $1,788/oz set in November of 2011. The third highest weekly close was $1,780.8/oz in October 2012 which is jut .50c above where gold closed this week. If gold...

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The highest that gold price has ever closed on a monthly basis was $1,831/oz in August of 2011. If traders can close June out above $1,773/oz this will be the second highest monthly closing price for gold on record. Gold is moving higher because trillions of dollars are being printed and gold is a store of value, used to protect wealth during times of...

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An outside reversal is a price pattern that indicates a potential change in trend on a price chart. The two-candle pattern is observed when a security's high and low prices exceed the high and low of the previous candle's trading session. This past week's high and low exceed the high and low of the previous week.

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Last week saw the largest decline in markets since the rally of the March low and in doing so created an Island Reversal Pattern which is a bearish type of chart pattern. Island Reversals form when price creates a gap up during an uptrend, holds above the gap level for a few days, and then reverses back to the downside while creating another gap on the move down...

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Silver(Sl1!) closed at $17.90 on Tuesday for a $0.53(+3%) gain on the day. Price is currently testing the $18 level which is just below a diagonal trendline which stems from the August high near $20. Price has also created a series of yellow candles over the past 4 trading sessions which indicates that there is bullish momentum volatility behind price according...

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The S&P 500(SPX) closed today at $2,922.94 for a -$30(-1.05%) loss on the trading session. Price is also once again hitting 61.8% Fibonacci resistance and setting up for what could potentially be a triple top pattern. The 61.8% Fib level has acted as resistance since late April while each pullback has held at the 50% Fib making this the current consolidation...

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This ratio shows the amount of silver it takes to equal one ounce of gold in price. When the ratio is rising it means that gold is outperforming silver; when the ratio is falling it means that silver is outperforming gold. The gold to silver ratio is currently at 106 and falling after hitting an all-time high of 126:1. The average ratio in modern times is...

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Silver(Sl1!) closed at $16.15 from an opening price of $15.75 for a gain of $0.40(+2.54%) today. This move comes after a recent break above trendline resistance which was followed by 4 days of price holding above the trendline. This hold above the trendline saw 4 doji candles form which are indecision candles. A doji candle is a price candle with a small body,...

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Gold(GC1!) closed at $1,740.9 for a +$17.8(+1.01%) gain today. Price also made a push above the upper resistance line of the pennant formation which is a bullish move and one that was anticipated in previous chart analysis shared. While this was a bullish break above resistance, we need to see a sustained move higher for a sign of uptrend continuation. Overhead...

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The S&P 500(SPX) closed today at $2,820 for a -$50.12(-1.75%) loss. Price is coming off of a second test and rejection from the 61.8% Fibonacci retracement level which has created a potential double top pattern at that critical Fib level. Price managed to hold above the 50% Fibonacci level on today’s selloff which is the midpoint of the total Fibonacci range...

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Bitcoin(BTCUSD) has moved back below the 50% Fibonacci retracement level after hitting 61.8% Fibonacci resistance near $10,000 this past Thursday into Friday as traders pushed price higher ahead of the halving event which took place today. The rally on Friday was also fueled by legendary trader Paul Tudor Jones announcing that he has entered the cryptosphere as...

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The S&P500 Volatility Index(VIX) shows price testing the 78.6% Fib level near $28 and the first reading back below $30 since February. With the VIX below the 61.8% Fib retracement price is technically back in a bear trend and indicates that forward-volatility in the SPX is expected to dissipate. The VIX represents the market’s expectation of 30-day...

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The weekly SP500 chart shows price testing, and closing at, $2,950 which has been a major support and resistance level going back to September 2018. Price briefly held above this level for two weeks at the beginning of the coronavirus selloff, but ultimately failed to hold and fell down to the $2,200 level before the relief rally that we’ve seen over the past 7...

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The S&P 500(SPX) closed Friday at $2929.81 for a +$48.61(+1.69%) gain. Price closed right at the 61.8% Fibonacci retracement level which is where price peaked on April 29th(red arrow) before seeing a slight pullback to the 50% Fibonacci level. The 50% Fibonacci level is the midpoint of the total Fib range from the all-time high of $3,393.52 made in February to...

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Silver(Sl1!) closed at $15.59 from an opening price of $14.92 for a gain of $0.67(+4.49%) today. Price also closed just above the orange downtrend resistance line which is bullish seeing as how this line has been acting as resistance since early April. Going forward, we need to see price hold above the orange resistance line and make an eventual push above the...

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Gold(GC1!) closed at $1,725.8 today from an opening price of $1,686 for a $39.8(+2.36%) gain while tagging, and coming to a stop at, the upper line of the pennant formation in the process. The pennant is a bullish price formation with the expected outcome being a break above the upper line of the pennant formation and a push back up toward $1,800. The Relative...