EdgeFX
25th April 2016, 12:32 PM
Gold, Silver, Oil Weekly Analysis
Gold Weekly Review
https://freshforex.com/netcat_files/Image/5e73333bc520dcf63371823851067efd.png
Weekly Review:
Since Silver bounced of from a resistive trend line at 16.038, the commodity has continually headed short, The commodity even ended up closing below a very significant support level 14.33. Following this downward movements, we are very reluctant to go long, instead we will remain short but with an ultimate stop at the lower supportive trend line. Any movements below this support trend line will signal further movements to the lower side.
Downward movements in other commodities such as Gold, will signal similar downward movements in silver. These commodities are positively correlated are thus expected to follow similar price movements.
Trade Recommedations:
Remain short in the silver markets but with an ultimate stop at the lower supportive trend line. Any clear movements will signal further movements to the lower side.
Oil weekly Review
Gold Weekly Review
https://freshforex.com/netcat_files/Image/5e73333bc520dcf63371823851067efd.png
Weekly Review:
Since Silver bounced of from a resistive trend line at 16.038, the commodity has continually headed short, The commodity even ended up closing below a very significant support level 14.33. Following this downward movements, we are very reluctant to go long, instead we will remain short but with an ultimate stop at the lower supportive trend line. Any movements below this support trend line will signal further movements to the lower side.
Downward movements in other commodities such as Gold, will signal similar downward movements in silver. These commodities are positively correlated are thus expected to follow similar price movements.
Trade Recommedations:
Remain short in the silver markets but with an ultimate stop at the lower supportive trend line. Any clear movements will signal further movements to the lower side.
Oil weekly Review