Weekly review of silver, NIKKEI, DAX | 14 August 2015

NIKKEI

Monthly chart: bulls have a chance to have a growth kept in case of maximum increasing. But upward swing is very long and, for sure, there is an expectation of downward swing.

Weekly review of silver, NIKKEI, DAX

Weekly chart: we see a bear Over&Under pattern so the last peak (20969) is not increased yet - the southern scenario is more actual.

Weekly review of silver, NIKKEI, DAX

Daily chart: also we see good conditions for downward swing - the peak decreasing and inside bar go with the upward swing.

Weekly review of silver, NIKKEI, DAX

Scenario:

1) So, if the peak keeps 20969, we will wait for a strong decline to break the last local bottom - 20039.

2) In case of the breakthrough above 20969, we will see a probable fixed new maximums

Trading solutions:

1) We sell when 19880 is opened with stops above 20847

DAX30

Monthly chart: the situation is not even double but triple. Without fully closed monthly bar there is nothing to analyze and there is no signal for the curtain actions. Bulls have a good chance for the second consecutive intersection up (and, consequently, for the upward swing forming), let’s see.

Weekly review of silver, NIKKEI, DAX

Weekly chart: in case of growth above 11814.3 (the last peak), bulls will break the bear’s scheme and get the carte blanche for the further growth (blue arrow).

If this will not happen the downward swing will be extended till 10792,6 where bullish O&U is on the daily chart.

Weekly review of silver, NIKKEI, DAX

Daily chart: classical downward structure for the decreasing peaks. As we noted earlier, down to the chart we see the upward O&U, which creates a magnet for prices in the area of 10792.6

Weekly review of silver, NIKKEI, DAX

Scenarios: decline from current levels to 10792.6, where we can see a new strong upward swing.

Trading solutions:

1) Sales to 10792.6

2) Buy from 10792.6 with targets in 11950.0

Silver

Monthly chart: The double bottom structure is kept (but not verified yet), that let expect the silver turn (or just an actual correction). This trend will be relevant if 14.34 support is kept

Weekly review of silver, NIKKEI, DAX

Weekly chart: a clearer double bottom. It disable to update the minimum. Plus inside bar and pin bar. It is a very strong northern side.

Weekly review of silver, NIKKEI, DAX

Daily chart: we can see here a possible turn up: after first bottoms increasing, bulls managed to break the last local peak! The nearest strong pivot is 15.83-15.92. There we can meet our target to buy.

Weekly review of silver, NIKKEI, DAX

Scenarios: so, we wait for silver till 15.83.

Trading solutions:

1) Buy from the market to 15.83. Stops under 14.34.

Aleksey Panasenko
FreshForex Analyst
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