Tag: Silver Chart Analysis

Before we start analyzing gold, let’s see how two precious metals behave in comparison on the chart below.

Chart courtesy of tradingview.com Gold (orange, right scale), Silver (blue, left scale)

This chart above starts from the bottom area of 2019. The most of the time, the yellow metal leads the game as Silver follows suit showing sharp moves to catch up with the gold. Sometimes the laggard throws over the leading trend amid excessive market reaction to the big moves of the top metal. Such extremes are rare and quickly get normalized by market “whales.” From this perspective, there is nothing new we can find on the chart. Continue reading "Gold Hits Target And Seven Year High" →

Both metals missed the time targets, which were set on the 13th of December for gold and on the 20th of December for silver in the previous post as I was expecting the Last Drop Ahead Of Santa Claus Rally.

I updated the charts below and went deep into the anatomy of the current consolidation in the "bc” segment to show you in detail what holds the price for so long delaying the last drop. For that reason, I switched to a lower time frame of 4-hour.

Let me start with the silver chart as it has a less complicated structure than gold, and I will use it as a navigator.

Chart 1. Silver 4-hour

Chart courtesy of tradingview.com

Corrective structures are tricky as I always repeat it as a mantra, but it really has such a nature as it reflects the uncertainty in the market mixed with attempts of different market forces to break out of the current status quo. This creates sharp zigzags and false breakouts as we see it on the silver chart above. Continue reading "Gold & Silver: Santa Claus Rally Postponed" →

Both metals went amazingly well with the plan that I shared with you a month ago. I have shown you a possible structure of more complex correction and set the time targets for both metals. Below you can see where you thought the completion of the corrective move would finish.

The votes were split almost even with a little margin in favor of the gold bugs as they preferred January 2020 as the ending point for the current extended correction. Silver fans chose Christmas day as their metal's chart showed it as a result of calculations.

Later on, there was an update where I set the price targets for both gold, and silver for the upcoming drop as the structure got more clarity.

As time goes by and the chart moves to the right, adding more and more bars, we can see the picture even clearer now to adjust both time and price targets for top metals below. Continue reading "Gold & Silver: Last Drop Ahead Of Santa Claus Rally?" →