Iโll share a simple technical learning on Gold and Silver. This warning alert was shared right at the top in #Gold and #Silver in Jan 27th , and now Iโm sharing a more detailed view.
This concept applies not only to Gold and Silver, but also to stocks, indices, and most liquid assets with strong trading volumes.
In many cases, major rallies eventually need to revisit or touch the Yearly Bollinger Band. Without that reset, sustaining the rally becomes difficult.
The Gold and Silver rally earlier this year looks like a classic operator-driven move that trapped late buyers. Now both metals appear to be moving toward their Yearly Bollinger Bands touch, which is why the technical pressure remains intense in Gold and Silver.
Key levels:
โข Gold Yearly BB: ~$3,600
โข Silver Yearly BB: ~$55.6
These are the minimum levels Iโm watching for a technical cooldown. From there, either a slow reversal can begin, or if the Bollinger Bands remain untouched, the downside risk could become much more severe in coming years..if that happens Gold and Silver wil be dead few years......But Me personally expecting a simple BB touch and base formation and reversal .
In simple terms: never ignore technicals.
#Gold #Silver #XAUUSD #UKSystem #TechnicalAnalysis #JustSaying Expecting a Like and Retweet from you all..... If you find these insights useful, I'll share more simple technical tips in the future.
@VVVStockAnalyst hope u can relate what i m going through right now when mkt start lookin gud i start making position lightly nd when i feels environment is quite gud now nd i go with my full size mkt start correcting .
tough june tbh