Since gold and silver is closely correlated we will see some buying power for this commodity as well. Looking at a Bearish Bat pattern that formed on the asset to sell in the near future .RSI showing some strong momentum on the 3hour timeframe as the end of a correction formed on the 15min timeframe but master direction is to go long so it will be a good idea for the week ahead as dollar weakness will continue.
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Silver finds support on strong structure low to go long
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DownUnder
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its having a long think about what to do next, maybe up maybe down. LoL
fxRUSH
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Clearly don't see that the first bearish bat pattern failed and formed the a correction to continue the up trend.so the logic idea is long and to short at the second bat pattern or at the end of a trend if you do know how to identity one.
fxRUSH
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Oil is a good example of a end of a down trend to buy and AUD /NZD a end of a Correction to buy but you need to look at multiple chart frequentlys
DownUnder
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Only trading Silver :). You think we will bounce back from 20.03 or wont even go that far down..?
fxRUSH
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Well Im short now on silver since yesterday as a end of a trend formed on the 1hour timeframe so not to expecting to see a reversal at 20.03 anymore as investors and traders took profit as the USD starts to make some recovery as anticipation for the job market reports for Friday but for now silver is bearish.