Saturday Gold and Silver Analysis - 2018-02-10
Saturday Gold & Silver Analysis - Feb 10th, 2018
The strategies discussed below are suitable for swing traders.
This is a continuation of my last post here:
Gold & Silver Prediction - 2018-02-01
Another resistance for Gold
Nothing much change for Gold. It’s still looks like it’s going to break those resistance and have a strong bull market. However, it seems it also have met a resistance at 1,350. The price currently nearing the top monthly channel. If it solidly breaks 1,350 we would have quite a nice start for the bull market.
Silver is a heartless mistress
“Silver is a heartless mistress, giving no loyalty to those who love her” I’ve heard this quote from a friend and it’s quite true in my opinion. Instead of breaking above the monthly EMA resistance, Silver is moving downward forming a triangle in weekly chart. Still, if Gold is bullish, Silver will follow soon after.
Conclusion
Hold positions. Wait and see.
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