Despite the incredible amount of internet hype on Gold/Silver and pending inflation, the price of this commodities seems to be going nowhere. Cyrpto has stolen some of these shiny metal's thunder
While this chart may be confusing it does illustrate several things.
1) We have been in a $120 range since mid-July.
2) The price trend has been down since August 2020.
3) Shorter term the harmonics are at odds with each other. (2 Bearish 1 Bullish)
4) There is an Inverted Head and Shoulders pattern (IHS) which breaks out around the 1839 level
5) Its month end where position squaring in normal and for the most part being long have been the order of the day.
So observe where we go from here in this context, Go in the direction break of the recent horizontal pale blue bars.
This a volatile space with lots off moving pieces,
This is not investment advice.
Do your own due diligence
S.
While this chart may be confusing it does illustrate several things.
1) We have been in a $120 range since mid-July.
2) The price trend has been down since August 2020.
3) Shorter term the harmonics are at odds with each other. (2 Bearish 1 Bullish)
4) There is an Inverted Head and Shoulders pattern (IHS) which breaks out around the 1839 level
5) Its month end where position squaring in normal and for the most part being long have been the order of the day.
So observe where we go from here in this context, Go in the direction break of the recent horizontal pale blue bars.
This a volatile space with lots off moving pieces,
This is not investment advice.
Do your own due diligence
S.