Platinum is to drop soon
Platinum is likely to bounce back down after it reaches the local resistance level.
Silver (XAG/USD) close to make a rebound
Silver has been trading in a strong bearish bias following a test of the resistance level at 17.34. Such move could be taken as a corrective one in favor of the cycle that started in the third week of March. Currently, the price is located around the Fibonacci level of 50% at 16.72, where a lower extension could take the XAG/USD pair to test the 200-hour moving average. Around that area, we’re expecting a rebound that help to boost it towards the -23.6% Fibo level at 17.63.
RSI indicator stays near of the oversold territory, calling for an imminent rebound.
Felipe Erazo
Similar
USDJPY is in a correction after checking the local support level.
The US dollar is currently in a correction, but is likely to continue the trend down.
The USD/CAD on a bullish reversal
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
Latest news
GBP/CAD is insatiable
GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
EUR/NZD: the short-term downtrend
EUR/NZD has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs.
Platinum is to drop soon
Platinum is likely to bounce back down after it reaches the local resistance level.
Deposit with your local payment systems
