Without much about stock market, today I made analysis on commodities markets.
Gold:
Gold keeps on surging these days. It finally reaches the level that it has been struggling to break through for a few times.
The difference is, gold price is having a strong upwards trend (short-term) this time. This trend might provide enough power for it to break this hard-to-break level.
Bad things are MACD is at high level, and volume shrinks, showing that investors are not much optimistic on gold price.
If it breaks the 1430 level, we could expect it to rise up to at least1500. If not, support will be at around 1380.
Silver:
Silver is different from gold, it has achieved one-year high few days ago and we could expect it to surge even higher.
I have identified two different trend-lines, indicated in purple and red. They are both pretty strong ones. Now they are getting closer to each other, we could expect big movements of silver price.
Breakdown of the two lines would lead the price to 31; and it could probably go up to 40-45 if brekaout confirms.
Platinum:
Platinum isn't as good as gold and silver. Recently, it dropped below the short-term upwards channel.
Luckily, the longer term up-trend line successfully performs its duty to support the price at around 1770.
We could see that the last candle had a long up shadow, showing that investors are more on bearish side. I could hardly see it keeping on boosting.
No comments:
Post a Comment