What you need to know on Thursday, February 5th
# United States (US) President Donald Trump signed a bill late Tuesday to end the partial government shutdown, providing some immediate relief.
# He also announced that talks with Iran would take place later this week in Oman regarding the country's internal crisis.
# United States (US) President Donald Trump signed a bill late Tuesday to end the partial government shutdown, providing some immediate relief.
# He also announced that talks with Iran would take place later this week in Oman regarding the country's internal crisis.
SILVER 4H CHART ANALYSIS
Silver has shown a brief pullback following last week’s sharp decline, but renewed weakness toward the prior lows near the 70 level remains likely. The price is currently reacting to resistance from a bearish FVG, while the RSI at 40 indicates continued downside momentum. With prices holding below key EMAs, the short-term downtrend appears intact, suggesting further pressure may persist.
Silver has shown a brief pullback following last week’s sharp decline, but renewed weakness toward the prior lows near the 70 level remains likely. The price is currently reacting to resistance from a bearish FVG, while the RSI at 40 indicates continued downside momentum. With prices holding below key EMAs, the short-term downtrend appears intact, suggesting further pressure may persist.
Silver breakdown alert👊
Silver just formed a Bearish Flag and the structure points to a potential 55% drop.
Meanwhile, Gold is testing a key confluence zone.
Levels that matter:
• Silver target: $53.70
• Key support: $72.14
• Gold resistance: $5348
Silver just formed a Bearish Flag and the structure points to a potential 55% drop.
Meanwhile, Gold is testing a key confluence zone.
Levels that matter:
• Silver target: $53.70
• Key support: $72.14
• Gold resistance: $5348
*Global Market Insight*
Stocks: US & Asian markets weak, tech under pressure
Gold/Silver: Short-term bearish, high volatility
Dollar: Strong — keeping pressure on metals
Oil: Stable but choppy
Stocks: US & Asian markets weak, tech under pressure
Gold/Silver: Short-term bearish, high volatility
Dollar: Strong — keeping pressure on metals
Oil: Stable but choppy
XAUUSD Analysis Intraday View on 15-Minute Timeframe Gold is currently displaying underlying strength; however, the RSI is indicating a divergence, suggesting the possibility of a near-term rejection from the 4,944 level. If prices manage to sustain above the 4,950 mark, further upside momentum is likely. Conversely, failure to hold above this zone could lead to a pullback, particularly around the New York session open.
#XAUUSD Buy Setup🔼
Buy 4964- 4960
Stop-loss: 4900
Target: 5400 / 5600
Note: This is a short-term buying trade with high risk due to recent volatility.
Buy 4964- 4960
Stop-loss: 4900
Target: 5400 / 5600
Note: This is a short-term buying trade with high risk due to recent volatility.