Gold Falls As Silver Misses Target

Both top metals couldn’t sustain the growth, although silver was more convincing than gold this time again.

Let’s start with the updated gold chart below.

gold
Chart courtesy of tradingview.com

Gold is still consolidating as it couldn’t overcome not only the nearest peak of $1766 but it also failed right at the top of the AB segment of $1748. The RSI dipped into the bearish zone below the crucial 50 level. So, it’s the right time to put our classic instrument called Fibonacci retracement level as gold watches ground while both feet are in the air. The first important 38.2% Fibonacci retracement level could offer support at $1636. Continue reading "Gold Falls As Silver Misses Target"

Are Palladium, Gold And Silver Set To Takeoff?

In this post, I'll go over the charts for palladium, gold and silver, but first I would like to start with palladium futures as it has the most potential gain to reach this round. At the start of May, I shared with you the map with equal opportunities for this champion metal to either break up or down. Here is how you saw the future for palladium in the graph below.

Palladium Poll

The majority chose the “break down” option, although with a minor advantage, but this bet played out as the metal’s price dipped one more time in the third leg down of a large correction. You were right again!

Now, let’s get down to the hot opportunity that I spotted for you on the palladium futures daily chart as it’s worth watching on the Gold & Silver Primetime.

Palladium Gold Silver
Chart courtesy of tradingview.com

The chart structure of palladium futures on the daily time frame could indeed be posted in the trading textbook as it is neat and smooth. I put detailed explanations here and on the chart as this metal gives such an excellent opportunity for education. Continue reading "Are Palladium, Gold And Silver Set To Takeoff?"

Silver Hits Charts As Gold Fails To Perform

In my earlier post this month, I shared hot trading opportunities for silver and gold. It’s time for an update as we’ve already seen how it played out.

Before we start, I would like to show you the metals performance month-to-date in the graph below.

Futures Board
Chart source: finviz.com

This month silver showed the best performance gaining impressive an +18.15%. The second best wasn’t gold; it’s platinum with a +9.05% gain. Gold is in third place this month, with a +2.39% rise. The most precious of these four metals, palladium, could score only a +1.29% gain.

You were accurate again with your forecast as most of you bet on silver (see chart below) under my last post. Seers in action!

Silver Gold Poll

Let’s get down to the updated charts, and I will start with silver. Continue reading "Silver Hits Charts As Gold Fails To Perform"

Gold Eyes All-Time High As Silver Targets Former Top

I spotted hot trading opportunities for you on daily charts, so let’s skip straight to it. Gold will be the first.

Gold
Chart courtesy of tradingview.com

Gold got stuck in a sideways consolidation after it hit a new high of $1748 in the middle of April. The lower peaks and higher troughs shaped a very familiar pattern of a contracting triangle (orange trendlines). The price has reached the upper side of that pattern as I write this post. Watch the price to break up out of the triangle to confirm the move up. Continue reading "Gold Eyes All-Time High As Silver Targets Former Top"

Palladium Is At Decision Point: Fly Or Die?

Sometimes forecasts play out right after it you post on the Blog. This was true for the piece published in February when I wondered if “Another All-Time High Ahead For Palladium?”. The target set in the daily chart in the $2800 area was reached within 10 days as the metal burst into uncharted territory to book a hefty profit of 22% or $500.

To remind you, I suggested three possible scenarios of how the palladium price could go in February. The original chart is below to refresh your memory.

Palladium
Chart courtesy of tradingview.com

Below are your votes on the future of palladium. Continue reading "Palladium Is At Decision Point: Fly Or Die?"