Recently, silver broke out above the resistance line 17.098 with a big green candle. An attempt to break back below it ended up in an engulfing candle to the upper side. Now that the price has pulled back to the same line, I expect a momentum to the upper side. while the price is above 17.098, I expect a momentum to the upper side. On the way upwards, the key lines to look for include 17.45, 18.00 and 20.00. If these lines are broken, then the price could continue upwards towards 25.0 or even higher. However, should the price break below 17.098 with a big red candle, then I expect the price to plummet further towards 15.725. On the way downwards, he key lines to look for include 16.760, 16.415 and 15.900. These lines are key and i they are breached, then the price could fall further towards 10.
Buy Silver now towards 20.54.
Bitcoin weekly Review
For now over years now, this crypto currency has been rallying above the three moving averages (10, 14, 53) and is still above them. While these moving averages protects the lower side, I expect a momentum to the upper side. Bitcoin could plummet eventually before gaining the anticipated momentum. On it ways upwards, the key lines to look for include $17,000, $20,000, $25,000 and ultimately $50,000. If these lines are breached, then bitcoin may continue upwards. On the other side, should the price breakout below these moving averages and especially below the 53 moving average, then, I expect a sharp decline towards $1000.00 or even lower. As is it on the chart above, I can only recommend a long position towards $20,000.00.
Remain long with Bitcoin now towards $20,000.00.
Standard poor's index has remained confined above three moving averages (10, 14, 53) and is still rallyng above them, while the price is above these moving averages, I expect a sharp rally towards $2900.0 and may breakout towards $3000.00. While the price is above these moving averages, I'm only interested in long positions. If any of the lower moving averages are broken, then I'll wait for a breakout below the lower moving average (53) to short this index towards. This is however, highly unlikely since this index has been on the rise for almost more than a decade, and chances or rising even higher are high. According to the daily char above, I can only advice looking for a long position towards $3000.00 or even higher to $3500.0.
Long SPX now towards $3000.00