Gold and Silver charts: three month long rallies face sharp corrections

binary options no deposit bonus 2019

Gold chart pattern

The daily bar chart pattern of Gold received good support from the middle Bollinger Band (20 day SMA, marked by green dotted line) and rose quickly to touch a high of 1349.80 on Feb 20.

By closing above the upper Bollinger Band, the door was left wide open for bears. Gold’s price corrected sharply below the lower Bollinger Band and closed below its 50 day EMA after more than three months.

Daily technical indicators are showing downward momentum after correcting overbought conditions. MACD is falling below its signal line in bullish zone. RSI has dropped below its 50% level. Slow stochastic has entered its oversold zone, and can trigger a pullback towards the 50 day EMA.

After a sharp fall below 96 on Feb 26, the US Dollar index is rising towards 97. That seems to have dampened bullish enthusiasm. The strong rally from the Nov ’18 low has ended.

On longer term weekly chart (not shown), gold’s price dropped to seek support from its 20 week EMA, and closed above its three weekly EMAs in long-term bull territory for the tenth week in a row. The ‘golden cross’ of the 50 week EMA above the 200 week EMA has technically confirmed a return to a long-term bull marketWeekly technical indicators have corrected overbought conditions but are showing downward momentum in bullish zones. 

Silver chart pattern

The daily bar chart pattern of Silver bounced up after receiving good support from its 50 day EMA and rose to test its previous (Jan 31) top of 16.29, but failed to close above it.

Silver’s price pierced the upper Bollinger Band and formed a ‘double top’ reversal pattern. A sharp correction below the lower Bollinger Band and the 200 day EMA followed.

Daily technical indicators are looking bearish. MACD is falling below its signal line and has entered bearish zone. RSI is falling towards its oversold zone. Slow stochastic has entered its oversold zone, and can trigger a pullback towards the 200 day EMA.

On longer term weekly chart (not shown), silver’s price closed below its three weekly EMAs in a long-term bear market. Weekly technical indicators are showing downward momentum. MACD and Slow stochastic are in bullish zones. RSI has fallen below its 50% level.

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?