Silver analysis
Comex silver price trading at 16.45$, Its trading higher since morning and outperforming gold since yesterday. Its approaching our major hurdle of 16.55$, Once traders cross this bridge and manage to sustain trade above our resistance. Then expect good firepower in silver price upto 16.75$ – 16.99$ today.
A good support on silver chart stands at 16.20$, If traders tank this base and manage to sustain trade below our support. Then expect more pressure in silver price upto 16$- 15.80$.
Silver analysis conclusion: Silver trend is positive for now, avoid major sell and buy on dips is advisable.
Bitcoin analysis
Bitcoin ( BTC/USD ) trading at 8300$, Yesterday in our post we recommended to buy. See our yesterday’s post here.
A good support on BTC chart stands at 8080$, If traders tank this base and manage to sustain trade below our support. Then expect good pressure in Bitcoin upto 7900$ – 7700$ today.
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A good hurdle on Bitcoin chart stands at 8550$, Once traders break this barrier and manage to sustain trade above our resistance. Then expect good firepower in bitcoin upto 8700$ – 8900$ today.
Bitcoin analysis conclusion: Bitcoin trend is positive for now, So should you buy bitcoin now? Well yes, Buy in dips around 8150$ would be good with stoploss below our stoploss for 200-300$ target. Real blast in BTC/USD may come after our hurdle.
For our Gold & Wall Street analysis read our morning post here
Currently precious metals are trading in positive zone so its a good time to buy in dips. Kindly make appropriate stoploss in every position as DJIA Index is trading positive. Dollar Index would decide the major trend in precious metals. So keep an eye on Dollar levels. Above 93.50 more firepower in dollar not ruled out. Support stands at 92.70 in dollar for now.
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