Gold has performed extremely well over the past few months, and BTG is starting to show some bullish momentum near the lows. However, BTG is facing resistance in the green zone between $3.31 and $3.46. I would be careful for some downside after this rejection. If BTG starts to rebound I would monitor for a break or rejection within the green zone. BTG needs to climb above $3.46 to rally to the yellow zone.
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Today’s OPEC meeting is creating some uncertainty around oil prices, especially as tensions start to escalate in the Middle East. USOIL has lost support within this yellow channel, and now the yellow trendline is acting as resistance around $71. I think USOIL is still neutral below resistance, and would need to break above $71 to […]
Read MoreSLV has formed a bullish breakout above the yellow resistance line around $28, but there is little buy volume to help the price rally. Instead, SLV is experiencing a lot of red above $28 and is at risk of dropping back down. As I’ve said in the previous updates, I’m not bullish on SLV after […]
Read MoreGold prices have recently surged to record highs, with silver also reaching levels not seen in over a decade. Both precious metals are on track for notable weekly gains, and such movements undoubtedly generate excitement. However, despite the strong rally, today we have witnessed some retreats, and the question now is: where do these precious […]
Read More
Today’s OPEC meeting is creating some uncertainty around oil prices, especially as tensions start to escalate in the Middle East. USOIL has lost support within this yellow channel, and now the yellow trendline is acting as resistance around $71. I think USOIL is still neutral below resistance, and would need to break above $71 to […]
Read MoreSLV has formed a bullish breakout above the yellow resistance line around $28, but there is little buy volume to help the price rally. Instead, SLV is experiencing a lot of red above $28 and is at risk of dropping back down. As I’ve said in the previous updates, I’m not bullish on SLV after […]
Read MoreGold prices have recently surged to record highs, with silver also reaching levels not seen in over a decade. Both precious metals are on track for notable weekly gains, and such movements undoubtedly generate excitement. However, despite the strong rally, today we have witnessed some retreats, and the question now is: where do these precious […]
Read More