Silver and Gold, Silver and Gold. Everyone wants some Silver and Gold !
Am entertaining the possibility of a bounce hereabouts.
Silver snapped back from the brink of Hades, and its sporting a very bullish looking candle.
$Silver Daily
Gold is siting below the neck line of a very nasty SHS top. Nevertheless there is a slight divergence to price in RSi and MACD. A bounce to the top rail of the falling wedge pattern looks possible. The notes on the chart were for my own reference, and may or may not be relevant.
$Gold Daily
If there is to be a bounce this looks like a good place to happen. Notice the divergences on RSI and MACD.
$XAU 2 Hr
There is little indication of an imminent bounce on the daily chart, but if it does happen we need to be aware that $XAU may be building out a right shoulder of a possible SHS top. Nothing definite, only possibilities at this stage.
$XAU Daily
Based on this … it all may happen this week: https://www.cnbc.com/2019/05/05/trump-says-tariffs-on-200-billion-of-chinese-goods-will-increase-to-25percent-on-friday.html