Become a logicalchat Member

Latest Post

Conquering the Mountain: Avalanche vs. Snowflake Debt Repayment in Canada

For Canadians wrestling with debt, the path to financial freedom can feel daunting. But fear not, our brave loonie-wielding friends! Two effective debt repayment...

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeTechnical OutlookS&P500, Gold And Silver Technical Outlook For April 03

S&P500, Gold And Silver Technical Outlook For April 03

S&P 500

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.

To get regular updates on stocks, please join our Discord community.

Our Articles on Long-Term Stock Analysis

My best read on trading is this Book

Related Post