Silver Buy Signal
As I said on the previous analysis, silver broke out above the resistance line 17.72, retraced back to it and is currently showing signs of sustaining this breakout. First, the break above 17.72 was a bullish indication and unless the price gets back again below 17.72 with a big red candle, I expect rise in price towards 20. As at the moment, I'm patiently waiting for a decline towards 17.72 to pick a long position. On the way upwards a key resistance line can be seen around 18.59 and 19.00. This is from a bullish perspective, if the price gets back below 17.72, then further decline towards 16.85 may be seen.
Look for long positions towards 18.59 and he next take profit at 19.00
Bitcoin weekly Review
Following Friday's anticipation that the Chinese Authorities would ban trading Bitcoin against the Chinese Yuan, Bitcoin registered a great loss, and could register further loss during this week. However, I expect the bitcoin to pick an upward momentum upon reaching the lows of 3974.43, or around 3590.3. Since this ban actually failed to mature, I expect the Bitcoin to recover very soon from the previous week's massive loss. From the lows or 3974.43, I expect a shart rise towards 4800.00 and could rise even higher to 5000. On the way upwards, key lines to look for include 4855, 5000, and 7000. Bitcoin could hit 15000 buy the close of the next two years.
Wait for a buy around 3974.43-3590.3 towards 4800.00
French Stock Market Index
For an extended duration of time now, almost 53 weeks now, The French Stock Market Index has been rallying within a falling wedge formation. Last week, I expected a sharp decline towards 4976.6, instead, the index dropped slightly to the lower side before pulling back to the upper resistance trend line. I now expect a rejection from this trend line to short he French Index towards my previous take profit still intact at 4976.6, if this support is breached to the lower side, then further decline towards 4753.6. On the way downwards, key support lines can be seen around 5045.5, and 4851.4. I may only consider a buy position upon a breakout above the upper trend line or upon a rejection from the support line 4976.6
Short CAC40 now with a take profit at 4976.5
Imelda MasenoAnalyst of «FreshForex» company