Finally Silver Hits 30.50 And Lower. High Probability Of Bottoming Out Now. Stay Long Trend News

Technical Outlook and Chart Setups:

As seen from the chart depicted here, silver finally hit 30.50 level and went lower today. Please note, the fall is still seen to be corrective in nature, comprising of wave 2 of the 5 waves rally expected from 29.22 level. The metal is likely to form bottom around 30.20/50 levels before reversing. Immediate Fibonacci support is just below the 30.00 levels as well. A bullish reversal here would produce a rapid rally towards 33.00 levels. It is, therefore, recommended to stay long. Looking higher from here.

Trading Recommendations:

Hold long positions, stop at 29.00, target open.

Good Luck !

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1626.00 Remains Trend Defining Support For Gold. Trend News

Technical Outlook and Chart Setups:

As seen from 4H chart view here, the yellow metal seems to be poised to test 1626.00 level before rallying. Please note, testing of highs and lows is a technically healthy sign, and not to be taken as a down trend at the moment. It is still recommended to hold long positions taken earlier till the time prices remain above 1626.00 level. A break below 1620.00 would confirm a paradigm shift in trade direction. Looking higher at the moment.

Trading Recommendations:

Hold long positions, stop at 1620.00, target open.

Good Luck !

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EurJpy Approached Trendline Support Near 123.00. A Bullish Bounce Here, Favors Longs Trend News

Technical Outlook and Chart Setups:

As seen on 4H chart view here, the single currency pair consolidates between 123.00 (support range) and 127.00 (resistance range). Furthermore, an intermediary line of support is passing right through the 123.00 region at the moment. A bullish bounce here shall enable / trigger further rally towards fresh high. 121.00 is immediate support while the 127.90/128.00 region is resistance. It is recommended to go long again if a bullish bounce occurs on the trend line.

Trading Recommendations:

Go long again on a bullish bounce now. Stop is at 123.00, target 129.00

Good Luck !

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