Metals and AUD Making the Moves

Some patterns are still in progress from a prior trading alert post.

Gold & Silver Showing Positive Signs

Gold could be establishing a short term bottom as the price formed multiple hammer candles and followed through to break 1301 short term resistance. 1325 is the next potential level to watch.

Meanwhile, Silver is showing some similarity as the price held above the key medium-term support around 14.80-15.00 area. Forming multiple hammer and gravestone doji candles. A falling wedge could be forming as well.

WTI Oil Hits Resistance Target

Oil has extended the upside following the earlier consolidation I mentioned in my prior posts. The price is testing a potential resistance at 65.00 area now, and thus I prefer to be more cautious here as we could some short term fluctuations.

AUD Making the Moves

AUDNZD has completed a breakout above the short term juncture I mentioned in my earlier post. And extended the upside further. It is a possible change in the trend structure, and thus buying dips is favored now more than selling rallies.

The AUDJPY is remains ins a sideways rectangle pattern, among 80.00-77.50 key levels. Watch for an upside breakout of the rectangle for the uptrend to resume.

Meanwhile, the AUD against the Swiss franc has broken of falling wedge formation.

Against the British pound, the AUD has also taken the weekly rising trend line and that is a negative signal for the GBPAUD pair.

Trading alerts are meant to alert traders for completed and potential patterns as they develop.  In addition to key support and resistance levels being tested. These alerts should be considered a heads-up and only as guidelines, not a buy or sell signal.