- Silver weekly chart shows price contraction in a triangle pattern. Price likely to remain in this pattern for some more weeks. If price gets resisted at the falling resistance line then the sideways move may continue for some months before silver can start to trend again.
- Last chart shows crucial numbers in weekly chart.
January 20, 2018
January 18, 2018
- Crude oil is developing a broadening wedge in 4 hour time frame.
- Second chart shows price right at the apex, a Breakout or breakdown is imminent from the contraction
- Breakdown if happens must stay below 50 SMA for bigger falls to follow. Staying above this moving average the up move likely to continue.
January 17, 2018
- Crude oil 4 hour chart resting on crucial moving average.
- second chart shows price at rising trend line.
- More weakness on closing below the moving average. Crude bulls must stay above the trend line and moving average to avoid a bigger down swing.