Silver (SI) surged Friday with a daily Hammer, breaking to the highest level since June 2021. SI has in the past week decisively broken the downtrend resistance line connecting the April 2011 and February 2021 highs (as can be seen easier on a monthly chart on tradingview.com)…
Gold (GC) surged nearly 2% Friday (on the June contract) to a fresh 2024 and record high. Although GC may start the new quarter with healthy consolidation as it bumps up against uptrend resistance (on the weekly chart), GC is unlikely this week to slide back to the 2023 high…
WTI Crude (CL) edged lower Friday with a daily Gravestone, completing a weekly Gravestone that was rejected at a fresh 2024 high. Odds appear fairly elevated for a deeper consolidation by mid week to below the psychologically key 80 whole figure level…
Gold (GC) gained nearly 1% Friday for its 8th straight green daily candle, closing the week just shy of Friday’s fresh 2024 and record high. GC has broken above a Bull Flag resistance since August 2020 (as seen easier on a monthly chart on tradingview.com) and is poised to extend the Bull Flag higher in much of the next few months…
Gold (GC) surged nearly 2% Friday, ending February at its month’s high and nearing the 2024 high formed early January. GC is now testing a Bull Flag consolidation resistance since August 2020 (as seen easier on a monthly chart on tradingview.com) which it had broke briefly above in December, and appears poised to extend the Bull Flag higher in March…
USDCAD edged higher Friday, continuing a month plus consolidation around the psychologically key 1.35 whole figure level. The big picture is of the USDCAD near the midpoint of the range it has traded within since late 2022 (as can be seen easier on a monthly chart on tradingview.com), coinciding roughly with the 61.8% Fib retrace of the slide from the 2002 peak to 2007’s low…
Seasons Greetings! Silver (SI) edged lower Friday on healthy consolidation going into the holiday shortened final week of 2023. With SI back above a major triangle/downtrend resistance connecting the April 2011 and February 2021 highs (as can be seen easier on a monthly chart on tradingview.com), odds are elevated for an end to the year back above downchannel resistance (on the weekly chart) and the psychologically key 25 whole figure level…
Silver (SI) edged almost 1% lower Friday on healthy consolidation after the strong gains off Wednesday’s December low. SI is now trying to reclaim downchannel resistance (on the weekly chart), which if successful, dramatically increases the likelihood of breaking within a week after back above the psychologically key 25 whole figure level and a major triangle/downtrend resistance connecting the April 2011 and February 2021 highs (as can be seen easier on a monthly chart on tradingview.com)…
The GBPUSD surged nearly 100 pips from Friday’s low to high, trying to extend its upchannel (on the 4hr chart). The Bull Flag (on the daily chart) though is tiring as the GBPUSD bumps against the 61.8% Fib retrace of the Jun 2021 to Sep 2022 slide (as can be seen more easily on a monthly chart on tradingview.com)…
Gold (GC) edged higher Friday, closing just below triangle resistance (on the weekly chart). With GC nearing the November high and having reclaimed the psychologically key 2000 whole figure level, GC is near complete in its Bull Flag consolidation since August 2020 (as can be seen more easily on a monthly chart on tradingview.com)…
