Saturday Gold and Silver Analysis - 2018-02-10

in #investment7 years ago

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.

Gold - Feb 10th, 2018

Gold - Feb 10th, 2018

Silver - Feb 10th, 2018
Silver - Feb 10th, 2018


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