Only charts

Gold / the precious yellow metal made it clear on friday post NFP figures that it is targeting higher levels. Gold already broke the bearish weekly trendline and declined to test daily support/trendline at 1260$ and reversed sharply to 1285$ during the asian session. The precious metal might find some resistance in the area of 1295-1300$ before resuming the bullish move to 1550$ in medium term. I recommend going long at current 1275$ area with stop loss on daily close below 1260$ ...

Hi all ,  This is friday and it is better to leave your accounts clean without any open trades to start next week fresh. I have been buying gold this week anywhere near 1215-18$ and this is beacause of the chart below. You can see there is a daily trend in the make. The yellow metal has fallen almost 80$ since macron winning first round of french elections and there is a minor gap which might be filled in near future. SO I am bullish as long as we dont close below that trendline on a daily basis. On the 1h chart , there is also a trendline being made and you can go long anywhere in the area close to 1223$ . RSI is also showing a trending pattern and this is signaling a rebound to 1240$ as first target after tackling1232$... Feel free to contact me anytime.

I have been recommending going ling on platinum lately. It managed to rebound to 951$. It is still facing some resistance at 945$ and it is not able to close above 945$ on the 4h chart. Buy platinum if you are not already long , your stop loss should be on closing below 936$ on the 1h chart. Platinum retreated after touching he 200 moving average on the 1 chart. I think we might see a strong rebound to the area between 970-980$ in the coming days.

Here is an update regarding my previous recommendation to go long on platinum. I am still holding my positions and 2 below charts will explain why. On the daily chart , We have very critical support level at 927$ , So we might see a rebound here targeting 980$ and 1010$ and It will be explained using the 4h chart. we have 927$ playing as support many times on the daily chart going back to 23 sep 2015 and two times during feb 2016. On the 4h chart shown below , we have a trend line starting at 1200$ area and passing by many tops . we expect a rebound from 930$ till 983$ next week by 19/10 ...If trend line broken on that test , we will get to 1010$ area . If we didnt see a rebound by next week and test on 19/10 , we will see a test of trend line probably at 960$ area on 27-10

The metals have been sliding since last week and platinum is no exception. However it looks very supported around 945$ and it looks like a nice chance to go long on metals now ahead of the FOMC minutes later today. Platinum has strong resistance at 970$ ahead of 1012$ . Platinum has been not able to stabilize above critical level at 1064$ and it has been a very good short position. Looking on larger scale , international economy is not doing well and the banking sector is facing alot of challenges. So metals are always a good hunt if we are going into risky mood. A weekly close below 940$ area will open the road towards 895$ .

Palladium among the metals are losing their shine for second week in row. Palldium on the hourly chart as you can see in below chart has very strong resistance at 675$. A short trade has been intiated at this level and another position was added at 662$ ,which is going to be a very strong resistance days ahead . On weekly chart , we can find next support at 625$ area. So target for these short trades is 630$ Stop loss will be on close above 675$ . All of that has been technical move , however that made people think that us dollar is going to rule because of the supposed rate hike in december and us elections in novemeber. However , I predict that currencies and metals will make a come back and rule over dollar in thw fourth quarter.