in our yesterday analysis we have cover all the precious in our idea and we told that silver daily rally was a fake one and soon it's going to plunge right away and we didn't have to wait for long to see the results,in today's article/idea we will focus more on silver
But first we need to look at gold and what future holds for it,we also told you that most bearish sign is not only coming from gold,it is coming from other precious metals sector silver is confirming it more as it is outperforming gold after every decline
Gold target reached-In our past idea we emphasize that gold can make significant upswing before the decline continues and our target price was 1340,we marked this level with yellow dot,why 1340? That's where the rising resistance line is
our past analysis is remains up to date,gold has already fell and our net short position proved to be profitable immediately,personally we think that gold can take a big decline today close to the report of news but we are not 100 percent sure(no one can),in past there were many scenarios when precious metals soared higher close to the big announcement or news report but it felt quickly after that,so this could be the way how the big decline will start this time,
But the question is will gold decline immediately or will it soar first before it fell? it's rather unclear,we could also see a rally in gold upto 1345 above the previous march high and as we saw importat bearish signs already it can decline right away
overall if you will try to look at the big picture these is no doubt that gold is about to a big decline but it's probable that before it happens it can rally to our mentioned number but it will be more good for us in our group to add more in our net short position if it soar as it will give more profit from the measurement of risk and reward
crystal clear sign in silver-We have written that rally in silver is like the same when it rallies on nov 2017.17 nov,that specific rally caused big decline in silver and the same happened this time,we are not trying to mix these two analogy also,there are many factors which are contributing to our bias,The analogy was accurate by the way!!!
will our past analogy drive the price of silver more further?-yes very probable if gold will take a plunge today then silver will follow big decline
overall we believe that both precious metals will take big plunge even if they make any small upswing in short term ,so you should be tight your seat belts to see all this while we will give you our daily analysis!!!
These are long term signals as we daily update our students we can close our position in the middle and taking all the profit from the table if market is pointing out reversal
Gold 1st target-1218
stop-1380
silver 1st target-14.53
stop-17.200
