we can go for short or safe player can wait for support breakout
Gold against Dollar pair, has seen a big down last week due to vaccine news, and rest of the week buyers had a little success. and this week expected to go higher till 1935 area
Midterm forecast: While the price is below the resistance 46.50, beginning of downtrend is expected. We make sure when the support at 36.95 breaks. If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is...
Midterm forecast: While the price is above the support 1848.75, resumption of uptrend is expected. We make sure when the resistance at 1975.00 breaks. If the support at 1848.75 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI resistance #1 at 62 is not broken, the probability of price increase would...
Natural Gas levels...16/11/2020 (1hr Candle)
Crude levels...16/11/2020 (1hr Candle)
Silver spurt up in Wave C to complete Wave Y as indicated few hours back. This now seems to have reached the minimum corrective move. If the correction is complete, then we should head down in a large move making new lows. For now a move below 24.20 , the wave B low should confirm the down move has started. An earlier entry may be possible, will see how this...
Silver has been moving sideways for few days and this recent move looks like a Wave B which should now resolve with a Wac c to complete the larger Y. The larger trend remains down so this will help us get better prices to go short
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1908.8). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAUUSD is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a...
Silver's recent upward to sideways can be counted as an incomplete WXY Flat. Subdivisions of Wave Y is in its final stages. An upmove to the 24.60 -24.80 should complete the rally . The larger downtrend should then resume.
39.33 is the key level , if it holds crude oil will become CRAZY !! buy on dips suggested for present case !
we can go for short after base line breakout.. SL seing high .. targets mentioned in chart
Short Silver Below 24.17 Target 23.87 Target 23.32
#crudeoil if it breaks this zone, the next is 3250-3300. Watch out for 3040 level for Breakout
BEARISH ON SHORT TERM - TREND CHANGES IF RSI TRENDLINE BROKEN