AshokThangam

AshokThangam

Silver forming wyckoff distribution pattern , imo it completed phase A and B , to start phase C it needs to toch or break previous support line . I use fib time zone to place the phase C ,D region . In other case if phase C already started , it breaks previous resistent and fall down.

AshokThangam

Target range $1650 - $1670

AshokThangam

silver started its aggressive mode after several years . i hope it will continue its uptrend .

AshokThangam

Here the head and shoulder is not a problem , after the completion of the pattern where the target headed to is the big ??. most probably it will enter into decline stage, let see..

AshokThangam

Most of them think , due to virus most of the investors will see $gold is the safe haven, yes it is but the situation is much differ from what it is in 2008 . Demand for #gold is only from the investors, that's not enough to drive the gold to reach the big targets . I think this April going to pullback the $gold.

AshokThangam

I expect the next graph movement could be double curve , as i drawn. Its just an idea , may or may not happen . Short term movements are crucial to predict.

AshokThangam

The current situation is similar to 2008 situation. I drawn the same pattern in 2008 ,i hope the upcoming pattern will have some correlation with previous one . Let see.

AshokThangam

Next support will be at $1490. Don't lose hope , gold will comeback soon...

AshokThangam

Many of the investors never expected this huge drop , i don't know exactly what will happen next . but it just an idea from me ..

AshokThangam Updated 

Beautiful cup and handle formation . Sice it already touched $1700 the next breakout will leads to $1750 and $1800 . Breakout can happen anywhere in this week .

AshokThangam

Still there is time to complete the arc formation, so wait till April to see the big move .

AshokThangam

There is more probability to correction action happen within Feb 21 . Expecting more support on $1555 level .

AshokThangam

One candle stick remaining to complete the flag that is march. After hitting the April high we can expect decline in a same pace. And the April target is $1700 .

AshokThangam

“The potential industrial fallout from coronavirus is already leading a number of governments to cut interest rates or add to easing activity, while the U.S. 10-year bond has been dipping in and out of negative territory. This is all positive for gold in a risk-averse environment, although by definition we cannot know for how long it will be before this outbreak...

AshokThangam

$1575 -$1585 range is possible for next week. And will reach $1600 within early February.

AshokThangam

When you see the 5 year moving average , this month will be a positive one .