Silver tests 28.00 as expected, before reversing. Remain long Trend News

Technical outlook and chart setups:

Let us go through the larger wave structure presented by the Daily chart view again. The AB rally from sub 26.00 level to 35.00 level can be seen towards the larger trend which is up. BC move from 35.00 to sub 28.00 level can be termed as counter trend for now. A CD extension is expected from 28.00 level to 41.00, 44.00 and higher in the coming months now. Supports are defined by 28.00 level, followed by 27.50, 26.50 and lower; while resistances are defined from 29.50 level, followed by 30.30, 31.20, 32.50, 33.50, and higher up. It is just a matter of time now, for a break above 29.50, since yesterday’s movement can be defined as the final test before the extended rally. Bottom line: Till the time prices are ahead of 28.00 bulls would remain in control.

Trading recommendations:

Remain long, stop is at 27.00, and target is open.

Good Luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Silver tests 28.00 as expected, before reversing. Remain long . Thanks for your support on Silver tests 28.00 as expected, before reversing. Remain long

Gold forms higher bottom at 1,590/92. Immediate target remains at 1,660 Trend News

Technical outlook and chart setups:

Let us again re-visit the larger wave structure depicted here on the daily chart view. The AB rally from 1,520/30 levels to 1,798.00 level in mid-2012 was towards the larger trend rally. BC fall from 1,798.00 to 1,555.00 can be termed as a counter trend as of now. The CD rally would be termed as final extension towards the larger trend which would exceed 1,900.00 level in the coming months. Believe it or not, till 1,555.00 remains intact, a higher bottom is in place for sure which would ensure rally towards the larger uptrend. Supports can be defined as 1,555.00, followed by 1,550 and 1,525/30; while resistances can be defined as 1,650/60, followed by 1,680/85, 1,700.00, 1,750.00, and higher up. The immediate wave structure is awaiting to take out resistance at 1,660.00 levels, which is just a matter of time.

Trading recommendations:

Remain long, stop is at 1,550.00, and target is open.

Good Luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via Gold forms higher bottom at 1,590/92. Immediate target remains at 1,660 . Thanks for your support on Gold forms higher bottom at 1,590/92. Immediate target remains at 1,660

GbpChf marginally exceeds 1.4410/20. Key remains at 1.4530 Trend News

Technical outlook and chart setups:

A daily chart view has been presented here for a larger wave structure preview. Please note the following facts as depicted here:

1. The major support trend line from 1.3800 level was breached earlier in 2012.

2. Prices formed a sequence of lower lows and lower highs around 1.4000 level. Support at 1.42 was broken in this process.

3. Immediate resistance remains at 1.4530/40 levels for now. A break above would open doors for a larger rally/pullback towards the 1.47/1.48 region.

4. The overall wave structure maybe possibly unfolding a larger Head and Shoulder reversal, and the right shoulder remains around 1.47/1.48 levels as depicted here.

5. Keeping the above facts in mind, it is recommended to remain short for now. In case 1.4530 is exceeded, we would look for pullback opportunities to go long.

Trading recommendations:

Remain short for now, stop is above 1.4550, target is below 1.4. If stop is triggered, we shall be looking to go long on dips.

Good Luck!

The material has been provided by InstaForex Company - www.instaforex.com



For detail explanation and best discovery on market trends you may visit via GbpChf marginally exceeds 1.4410/20. Key remains at 1.4530 . Thanks for your support on GbpChf marginally exceeds 1.4410/20. Key remains at 1.4530