Advertisement
Advertisement

Gold Is Ready for a Reversal

By:
Tomasz Wiśniewski
Published: Aug 16, 2021, 08:36 UTC

In today’s Traders Edge Market Briefing, Tomasz found these amazing setups we thought you’d find interesting!

Gold Is Ready for a Reversal

In this article:

 

Gold is in a proper V-shape reversal bouncing from the 38,2% Fibonacci. That can be the end of the bear market.

Silver is in a slightly worse situation but still it bounced from an important horizontal support.

Platinum is respecting the Fibonacci levels. For the buy signal, we need to see a breakout of the 38,2% level.

Palladium is inside a mid-term symmetric triangle. A breakout will show us a direction.

Crude Oil is defending a crucial horizontal support at the 66,5 USD/bbl but for how long?

The Dow Jones is in a pessimistic candlestick pattern on the daily chart but there’s still time to deny it.

The EURUSD is in a false bearish breakout below the neckline of the Head and Shoulders pattern. This can be a positive signal.

The GBPAUD is escaping from the pennant to the upside.

The GBPCHF is testing the neckline and the upper line of the wedge but this time, from the upside. As long as the price is above, the sentiment is positive.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.

Did you find this article useful?

Advertisement