Gold and Silver charts: bulls unable to make any headway against strong bear resistance

how to do bitcoin trading

Gold chart pattern

The daily bar chart pattern of Gold was expected to consolidate sideways in a range between 1220 and 1240. It pretty much did that – remaining below its sliding 200 day EMA in bear territory. 

Gold’s price faced selling pressure when it tried to move above 1240. When it dropped below its 20 day and 50 day EMAs to close at 1212 on Oct 31 – thanks to a spike in the US Dollar index to 97 – it found buying support.

Daily technical indicators are in bullish zones but only Slow stochastic is showing upward momentum. MACD has merged with its signal line. RSI bounced up from its 50% level but has started to move down. Slow stochastic is rising above its 50% level. Expect some more sideways consolidation – may be with a slight upward bias.

On longer term weekly chart (not shown), gold’s price closed just above its 20 week EMA, but below its 50 week and 200 week EMAs in long-term bear territoryWeekly technical indicators are giving mixed signals. MACD is rising above its signal line in bearish zone. RSI has slipped down after facing resistance from its 50% level. Slow stochastic has entered its overbought zone.

Silver chart pattern

For the past 5 weeks, the daily bar chart pattern of Silver has been consolidating sideways in a range between 14.2 and 14.9 while oscillating about its 20 day and 50 day EMAs.

Silver’s price is trading well below its falling 200 day EMA in a bear market. Daily MACD and RSI are in neutral zones. Slow stochastic is rising above its 50% level, and showing upward momentum. Expect some more sideways consolidation.

On longer term weekly chart (not shown), silver’s price is facing resistance from its falling 20 week EMA, and closed well below its 50 week and 200 week EMAs in a long-term bear marketWeekly technical indicators are in their respective bearish zones. MACD and Slow stochastic is showing upward momentum. RSI is moving sideways.

news forex trading

forex no deposit bonus

Leave a Reply

Your Name (required)

Your Email (required)

Your Message

BonusMin. DepositMax. ReturnsRating
ayrex$10,000$20090%Rating Ayrex Options Review
$10,000$581%broker Rating Freestyle Review
Finmax$10,000$20090% FiNMAX Review
StockPair$20,000$585%broker Rating Falcon Finance Review
24optionUnlimited$25089%Top Binary Options Brokers Rating 24option Review

To invest with binary options you will work with an investment broker who is licensed to work in this field. Working with your broker, you will identify which asset you want to buy an option on, how much you want to invest and when the option will expire. Once the option is placed, you simply watch the trading activity on that asset to see if your prediction was accurate or not.

Binary options are one of the most popular trading choices for investors today, due in large part to their simplicity and the fact that you always know all the risks and payoffs ahead of time.

  • regulated: we promote only regulated brokers whose business models and marketing practices are checked by relevant government authorities.
  • special features: here we list all the important features that a broker offers. These are usually listed as perks offered trough various account types which bring different levels of service, depending on the minimum funds deposited
  • bonuses: almost every Top Binary Options Brokers offers these rewards that increase trading potential. Fair Binary Options also lists terms and conditions that come with the bonus money so traders always know how will these affect their trading efficiency.
  • the best binary trading platforms reviewed: we review the software that makes trading possible. There are several big providers, such as SpotOption, TechFinancials, Tradologic, MarketsPuls… Every software has some special characteristics, and not every software is suited for every trader
  • assets: Fair Binary Options review provides basic info on the amount of assets available for trading
  • customer support: we chat with the customer support to test how the broker has set up the help desk that should support traders. This is the best way to assess the service.
  • payments: we list all the payment options available by the Top Binary Options Brokers, list minimum deposit requirement
  • withdrawals: we warn traders if withdrawal requirements are too high, or if it takes a long time to get the money back.
    • Keras - self-learning NEURAL networks for
      Stock market forecasting
      Get it FREE

      *number of participants is limited

      Customer Testimonials

      Fellas what broker is legit in States ? binary options binary options broker USA?