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
- S&P500 in Ascending Triangle. Trading Long on WTI Crude Oil? CAD Interest Rate in Focus. Yesterday 03:52 AM
- Forex Trading Gold (XAUUSD) at Record Highs. WTI Crude Oil Rally on Middle East Tensions. October 18, 2024 06:51 AM
- Forex Trading on EUR Interest Rates. Trading Long on WTI Crude Oil? Silver (XAGUSD) in Symmetrical Pennant. October 15, 2024 04:17 AM
- Forex Trading on NZDUSD. US Fed Looking at Inflation this Week. USD Strongest Currency. October 10, 2024 09:55 AM
- Gold (XAUUSD) Consolidating. Trading Silver (XAGUSD) in an Ascending Triangle. Forex Trading on NZDUSD. October 07, 2024 06:07 AM
- JPY Weakness Coming to an End? Forex Trading WTI on Middle East Conflict. Gold (XAUUSD) in Symmetrical Pennant. October 03, 2024 05:23 AM
- Forex Trading Long on Silver (XAGUSD). Technicals may Signal a Weaker Yen. S&P500 Trying to Break Descending Triangle. September 30, 2024 04:57 AM
- Forex Trading Gold (XAUUSD) at Record Levels. SNB Interest Rate Falls: More to Come! September 26, 2024 10:09 AM
- Forex Trading BitCoin Coming Soon to GCI Trading! Trading Short USDJPY. SNB Interest Rate this Week. September 23, 2024 04:55 AM
- Forex Trading on US Interest Rates. The Fed Catches us off Guard. Trading a Reversal on Natural Gas? September 20, 2024 09:10 AM
Open an account in minutes
Trade on our award-winning platforms with ultra-fast and ultra-secure execution.
OPEN AN ACCOUNT