Silver (XAGUSD) About to Reverse? Forex Trading Short on WTI. Gap Trading the DAX 40.
We know a lot of you like to trade silver and we are wondering if this bull run may have peaked.
We may be seeing the formation of a double top with the neckline at $30.
Also, the stochastic oscillator is overbought and MACD might be turning bearish at any moment.
Watch for the signal line to pass out of the histogram like it did 11 days ago.
If we zoom out to the 4-hour chart we see bearish signs already but we would like to see price action break this lower trend line.
Also, we are seeing a lot of USD strength in most pairs so Silver and Gold may follow.
Speaking of which, in our last video we pointed out short opportunities the DAX, EURUSD and AUDUSD.
Look what happened!
In fact price action on the DAX opened with a huge gap to the downside, below the lower trend line.
Let’s see if buyers can fill the gap.
We see the downtrend on WTI continuing with price action bouncing off the upper trend line.
On the downside, we have support at $30 and, if we break that, we have this lower trend line.
That’s all for now.
CFDs and FX are leveraged products and your capital may be at risk.
Latest Analysis
- WTI Crude Oil Still in Symmetrical Pennant. Buy the Dip on the Dow Jones. Forex Trading USD at Key Levels. Yesterday 04:30 AM
- US Political Uncertainty Affects Markets! Buy the Dip on the Dow Jones? CAD Interest Rate in Focus. July 22, 2024 10:11 PM
- Forex Trading Long GBPAUD. WTI Crude Oil moving Bearish? CHF Stronger; For How Long? July 18, 2024 04:47 AM
- Forex Trading long AUDUSD. WTI Crude Oil in Symmetrical Pennant. Inflation in Focus this Week. July 15, 2024 05:03 AM
- Forex Trading on JPY: Can it Get any Weaker? Trading Short WTI. Range Trading on CAC40? July 11, 2024 07:49 AM
- Forex Trading USDJPY & EURJPY. US Inflation in Focus. CAD Weaker on Poor Employment Data. Buy the Dip on CAC40? July 08, 2024 05:25 AM
- US Non-Farm Payrolls in Focus. Forex Trading Short on Gold (XAUUSD) and Silver (XAGUSD)? Trading Long CHFJPY. July 04, 2024 05:17 AM
- Elections in France and UK: Effect on GBP & EUR? Forex Trading Short NZDUSD. July 01, 2024 08:44 AM
- Forex Trading Short on AUDCAD. US Indices in Consolidation over Political Uncertainty. Today 07:36 AM
- Trading Short Platinum. Forex Trading Long on GBPCAD; Short on EURGBP. Range Trading AUDUSD. June 20, 2024 07:12 AM
Open an account in minutes
Trade on our award-winning platforms with ultra-fast and ultra-secure execution.
OPEN AN ACCOUNT