And with the Bollinger Bands clearly 'pinching', a thrust out of this consolidation period could come very soon:
A fight in this price zone has taken place before. The bears won the last battle, will they win again?:
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Silver - Same as gold, losing much of it's momentum, with the QG3 very close to producing a bearish cross-over:
Silver also feeling the 'Pinch':
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Platinum - The QG3 is still in a bullish alignment, however weakness in Gold and Silver and USD making a bullish cross-over suggests caution would be prudent with appropriate stops or hedges. Though a Handle is complete with the bullish pattern below, beware of a possible back-test of that handle down below, currently at 1571:
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EUR/USD - A bearish Inside Key Reversal was printed on the weekly chart. The close for last week was in the lower 10% of it's range, so further downside should be expected this week:
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USD - A second right shoulder of a MT bearish SsHsS could emerge over the next few weeks:
The longer term picture still suggests more downside for USD, as long as it remains inside the current Bearish triangle:
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The content in this blog post if for informational purposes only and is not a recommendation to buy or sell any financial products or securities.
All the best to you this week,
Quad G
