As promised in my earlier post I updated the silver chart for you in this post as I spotted some exciting patterns forming on the chart below. But first, I would like to start with the stronger of the two metals, gold.
Chart 1. Gold Daily: Couldn’t Tag Previous Top
Indeed, it was another excellent try when the bulls attempted to break loose from this long-lasting range established between $1046 and $1375 in 2016. But the RSI indicator didn’t agree as lower tops showed a hidden Bearish Divergence and this spoiled this nice bullish attack. The $1375 resistance has been left untouched. Moreover, now this strong indicator indicates that the bears took the ball as it dipped below the crucial 50 level. Continue reading "Gold Failed And Silver Is On The Edge"