To update from the last week's rejection line, it broke upside and returned back to the accumulation zone.
This week could very well see a uptrend with global markets taking a hit on thursday and friday.
Let the price come out of flag pattern for breakout. 238% levels in fibonacci are not available on Tradingview but silver is taking support from that level 25.6 USD. SL should be kept at 25.6 USD.
Views are for educational purpose only
Midterm forecast:
While the price is below the resistance 2075.05, beginning of downtrend is expected.
We make sure when the support at 1818.00 breaks.
If the resistance at 2075.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI support #1 at 45 is not broken, the probability of price decrease...
Gold against Dollar , have been trading within a triangle almost a month , last Friday , it did tries to do escape out of the August Triangle. unsuccessful but made a initiative there to go short from that triangle..this week it may hit the resistance at 1965 area, then the breakout from triangle may happen.expect it go down till 1890..overall anticipating a...
Midterm forecast:
. While the price is below the resistance 46.50, beginning of downtrend is expected.
. We make sure when the support at 40.00 breaks.
. If the resistance at 46.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
. There is a divergence in RSI and price between the peak at 43.315 on 2020-06-08...
