This chart forms part of a larger client note published pre-market.
The metal has had a strong two-day candle structure, with the price looking to breach it's short term downward trend line extending back to the swing highs of 30 September. Higher lows have developed since 02-November while the price is regaining and attempting to trade above the 8-21-50 DAY EMA. In order for the trend to shift, we need to see the price solidly break the $900 level. It held the pivot and is looking to test test the underside of resistance level #1.
The metal has had a strong two-day candle structure, with the price looking to breach it's short term downward trend line extending back to the swing highs of 30 September. Higher lows have developed since 02-November while the price is regaining and attempting to trade above the 8-21-50 DAY EMA. In order for the trend to shift, we need to see the price solidly break the $900 level. It held the pivot and is looking to test test the underside of resistance level #1.
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