Silver analysis
Comex silver price fired yesterday and our subscribers enjoyed it. We gave a buy silver signal and fetched nearly 1200$ per lot profit. Currently prices are cruising at 16.66$ well above our yesterday’s resistance. President Trump cancelled meeting with North Korea’s leader which lead to fall in dollar index and gave a good rise to gold silver. US unemployment claims rises which was another reason for rise in precious metals.
A good resistance on silver chart stands at 16.92$, If traders break this hurdle and manage to sustain trade above our resistance. Then expect more firepower in silver price upto 17.12$- 17.35$ today.
A good support on silver chart stands at 16.40$, If traders take this base out and manage to sustain trade below our support. Then expect some pressure in silver price upto 16.20$- 16$.
Silver analysis conclusion: Silver analysis is positive for today, We wont take any position today as US and North Korea’s new development may push market wild. But Buy in dips strategy would be better today. No selling at all as market has turned positive now.
Bitcoin analysis
Bitcoin price ( BTC/USD ) trading at 7540$. As suggested on twitter it did not broke our support of 7150$ and bounced back from there smartly. A good support on bitcoin technical chart stands at 7150$, If traders tank this base and manage to sustain trade below our support. Then expect more pressure on bitcoin price upto 7020$- 6900$ today.
A good hurdle on bitcoin technical chart stands at 7820$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good recovery in bitcoin price upto 7980$ – 8100$ today.
Bitcoin analysis conclusion: Bitcoin trend is positive for now. So should you buy btcusd now? On current levels answer is no. Wait for dip near our support then buy else wait for resistance and then buy small qty there with 60-80$ stoploss and 100$ target.
Read Gold forecast here
More will update to our signals subscribers.