Author: Aibek Burabayev

"Diamond" Pattern Pushed Gold To Sky Vs. Silver

Posted on by Aibek Burabayev

I appreciate active readers of the Blog for leaving valuable comments on Gold and Silver posts. Recently, there have been a lot of thoughts shared not only about the metals itself but also about its relationship reflected in the dynamics of the Gold/Silver ratio. I think it’s time to talk about it in this post. Please feel free to enrich this piece with your valuable thoughts in the comments section.

Back in December 2014, I shared only the third post here on the Blog. The title was more appropriate for a science fiction novel as it promised the “journey to the Moon” for the Gold/Silver ratio as it was going to hit the 109 ounces. Below is that very chart from the distant 2014 to refresh the memory.

gold silver

The idea was based on the “Diamond” pattern spotted on the monthly chart (blue). The target was reached more than five years later on the 16th of March this year. The total gain is equal to 109 - 72 = 37 troy ounces of silver per troy ounce of gold or 51% in five years.

Let’s see in the weekly chart below the ratio dynamics after that post. Continue reading ""Diamond" Pattern Pushed Gold To Sky Vs. Silver" →

Silver Could Take Gold Down With Bearish Divergence

Posted on by Aibek Burabayev

I was watching top metals closely as their price dynamics didn’t convince with sharp zigzags up and down, which are more appropriate during market consolidations, not trends. When silver hardly tagged the former top on the 1st of July, I got cautious. So, this post is aimed to share with you a warning alert for top metals as I spotted a Bearish signal on the silver chart. I will start with its daily chart below to show you the details.

Silver
Chart courtesy of tradingview.com

“Silver was a gamechanger” in April as then it finally revealed its structure with a sharp drop and the following V-turn, which indeed changed the game for both top metals since then. This time again, it shows a leading Bearish indicator ahead of gold. Continue reading "Silver Could Take Gold Down With Bearish Divergence" →

Is Gold Poised To Move Higher?

Posted on by Aibek Burabayev

Polls show that you were optimistic about the probability of another rally for top metals. Both of them go well with the maps that I shared earlier this month. Let's see, in the updated charts below if they are going to justify your bold expectations.

Gold is the first as it has a stronger position now.

Gold
Chart courtesy of tradingview.com

The top metal completed the sideways consolidation that I showed you two weeks ago. It didn't touch the 38.2% Fibonacci retracement level at $1636 as it stopped at $1671, which is even higher than the first leg of this corrective structure, which was established at $1661. It is an entirely natural outcome as the last leg down started at $1766, also higher than the top of the first leg did at $1748. The second leg down was longer ($95) than the first leg ($87). Continue reading "Is Gold Poised To Move Higher?" →

Gold Falls As Silver Misses Target

Posted on by Aibek Burabayev

Both top metals couldn’t sustain the growth, although silver was more convincing than gold this time again.

Let’s start with the updated gold chart below.

gold
Chart courtesy of tradingview.com

Gold is still consolidating as it couldn’t overcome not only the nearest peak of $1766 but it also failed right at the top of the AB segment of $1748. The RSI dipped into the bearish zone below the crucial 50 level. So, it’s the right time to put our classic instrument called Fibonacci retracement level as gold watches ground while both feet are in the air. The first important 38.2% Fibonacci retracement level could offer support at $1636. Continue reading "Gold Falls As Silver Misses Target" →

Are Palladium, Gold And Silver Set To Takeoff?

Posted on by Aibek Burabayev

In this post, I'll go over the charts for palladium, gold and silver, but first I would like to start with palladium futures as it has the most potential gain to reach this round. At the start of May, I shared with you the map with equal opportunities for this champion metal to either break up or down. Here is how you saw the future for palladium in the graph below.

Palladium Poll

The majority chose the “break down” option, although with a minor advantage, but this bet played out as the metal’s price dipped one more time in the third leg down of a large correction. You were right again!

Now, let’s get down to the hot opportunity that I spotted for you on the palladium futures daily chart as it’s worth watching on the Gold & Silver Primetime.

Palladium Gold Silver
Chart courtesy of tradingview.com

The chart structure of palladium futures on the daily time frame could indeed be posted in the trading textbook as it is neat and smooth. I put detailed explanations here and on the chart as this metal gives such an excellent opportunity for education. Continue reading "Are Palladium, Gold And Silver Set To Takeoff?" →