Since my last post on Silver Prices on October 5th, Silver prices have achieved the $18.00 per ounce price target and have hovered underneath that resistance level since then. Let’s take a quick look at silver prices and make a note as to how silver is failing to match the recent highs in gold.
Let’s take a quick look at the daily chart of Gold to note a recent “Bull Flag” pattern, and also revisit the “Triangle” breakout pattern that triggered as a potential set-up in early September. We’ll note two potential upside targets if these are the dominant technical price patterns in gold.
For anyone who has been following gold prices lately, you’re probably aware of the dominant triangle pattern that is reflecting a lengthy consolidation in price. Let’s take a quick look at that pattern and what the potential upside and downside targets will be with a solid break of the pattern. The symmetrical triangle pattern began…
Adam Hewison released another 4-minute quick video update on the recent ‘bullish strength’ in the Gold Market boldly entitled “Has the Gold Bull Finally Arrived?”
There’s an interesting debate on what exactly is the dominant technical pattern in gold on the weekly chart. Let’s take a look at the two possibilities and note possible price targets for both patterns.
I’ve heard on television all day about the “surprise” breakdown in gold prices over the last two days. Let’s take a look at one of the classic signals gold prices sent ahead of the down move this week, as well as learn a lesson on momentum.
Adam Hewison released another timely update on the gold market this morning entitled “Gold Update – Will a Long-Term Trendline Stop the Hemorrhaging?”
Here at the Trader’s Expo, there has been a lot of talk about gold, particularly with the volatility of the last two days. GLD (Gold ETF) has pulled back into a possible confluence support level – let’s see it and also see the volatile Trend Day Down, Trend Day up, and Friday’s morning gap action on the intraday charts.
As many of us have been suspecting, gold is on a steady pathway up to retest and likely exceed the $1,000 per ounce level which has served as substantial resistance in the past.
Let’s take a quick look at gold’s Daily chart structure to see this happening as it unfolds.
Per reader request, let’s take a quick look at the US Dollar Index and the Gold Market on a 3-year weekly chart basis, noting key Fibonacci levels and possible long-term targets.