Renewable energy and cannabis-related stocks, tipped to gain under a Joe Biden administration.
Bullion prices traded firm on Thursday as polls showed probable victory of Democratic candidate Joe Biden.
COMEX spot gold prices traded near $1,907 per ounce paring previous losses while spot silver prices at COMEX were trading above $24 in the morning trade.
Bullion prices are fluctuating in the range witnessing volatility on uncertain US election results. We expect bullion prices to trade volatile in the current range for the day.
Overall, the bias in prices is: Upwards.
By the way, prices are vulnerable to a correction towards 23.69.
The projected upper bound is: 26.22.
The projected lower bound is: 22.49.
The projected closing price is: 24.36.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 79.3874. This is not an overbought or oversold reading. The last signal was a sell 17 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 50.77. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 30 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 13. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.
Rex Takasugi – TD Profile
PREC.M.XAG= closed up 0.502 at 24.412. Volume was 8,900% above average (trending) and Bollinger Bands were 60% narrower than normal.
Open High Low Close Volume 23.920 24.540 23.870 24.412 15,536
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 24.03 25.06 20.03 Volatility: 36 48 57 Volume: 1,554 311 78
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
PREC.M.XAG= is currently 21.8% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect very strong flows of volume into XAG= (bullish). Our trend forecasting oscillators are currently bullish on XAG= and have had this outlook for the last 9 periods.