iShares Silver ETF (SLV): In Retracement Mode

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iShares Silver ETF (SLV) has been on very bullish mode for these two months after breaking out from the Inverted Head and Shoulders (trend reversal pattern) and retested the neckline (illustration in green). SLV is expected to retrace into consolidation mode after reaching the 161.8% Fibonacci Expansion Level. Currently SLV is just sitting above 20D SMA support. Next critical support is at $17.00 (in blue).SLV July23-2016

SLV is currently on bullish uptrend. By looking at the current trend and long term chart, can you spot any investment opportunity? Happy Hunting!

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SLV July23-2016 (long term)

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Gold is Cheap! Is it the right time to buy Gold?

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Gold has dropped a lot and getting near to the 5 years low. Gold is getting very attractive at the current level for many gold lovers, and many investors are tempted to buy gold at this level. However, technically speaking base on the chart, there may be more down side coming after the Gold (GLD) has broken the significant support at $115. GLD is trading in a confirmed down trend.

GLD Nov7-2014 (5 Year)GLD Nov7-2014

Currently GLD is rebounding from the low of $109 but $115 will serve as a Support Turned Resistance. If GLD is unable to break this resistance, the price target will be $106 base on 161.8% Fibonacci Expansion.

Original Post by Marubozu My Stocks Investing Journey

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