You know my long term opinion on the commodities such gold and silver. We saw a strong bullish control during past few weeks and I think we will see a correction now. I’m not going to trade this pullback, however i’m looking for buy setups to form. One way to join the bulls is if the price corrects near the daily trend line and enters the 15.50-16.00 zone. This is where I will be looking for bullish divergence to complete itself and go long.
D1 – Bullish Double Cycle Completed
Wait for the price to enter the the buy zone as shown in the screenshot below. This is when we should start looking for bullish divergence to complete and we can enter a long trade.
Targets: Aim 16.70 as first target and 17.60 as second one.
Protection (stop loss): below last low created.
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