S&P500 End of Day Chart (SPX)
SPX managed to close above 5200 after testing swing low as mentioned in our previous post, check here if you missed.
 – It was down day for S&P 500 and Nasdaq but overall trend remains up
– Weekly Trend is up
– Daily Trend is still up
– Hourly Trend turned down now
– Weekly swing low is around 5180 but if this breaks next support come just below 5160.
Gold Future Reached To 2300 What Now?
– Gold is strong trend but seem overbought zone now
– A small pullback can be expected
– Bond yield currency risk is tail wind for gold!
– Any pull back can be a buying opportunity!
– 2238 should be used as SL for short term trade (In Future)
Silver made the news with 4% gains but at risky stage!
– Silver finally playing catch up rally with Gold
– Strong trend but hitting the multiple resistance zone
– A small pullback can be expected in couple days in this area
– Gold/silver ratio is a bullish sign for silver for near term
– Any pull back can be a buying opportunity for Silver!
– I will be entering for long once its close above 26
Please note this is only an opinion and not financial advice.
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