Weekly debrief

GOLD: Gold had a major run up in only four weeks from its 200SMA near $1811 all the way to $2011

Understandably exhausted from such a sprint it paused the previous week and now give up profits this week with full control of the bears

yet as much as bears were in control prices will meet a substantial supply zone at the price level of1925

we expect a consolidation for the upcoming week with a possible weekly doji forming:

SILVER: silver unfortunately is weaker and has in this weeks down-leg stabbed right through supply

but silver is used to overextended moves alongside its beta and finds at $21.85 supportive structure again

its weak could be more turbulent though than golds

it take a completed doji before low risk entry points will appear in this precious metal:

BITCOIN: less is more

especially when it comes to bitcoin

meaning with bitcoins variability of contractions and expansion keeping it simple in charting can be very helpful to not get distracted by the way this instrument trades

that being said the following chart shows clearly that we have reached the upper band resistance of the consistent bull channel, a place where there are higher risk to additionally allocate funds but rather a zone to be reached for partial profit taking and a certainty of not cashing in your runner chips just yet since bitcoin is famous for upward explosions that are hard to get into:

ES:

The S&P 500 contract now officially concluded finishing a bullish "V" formation over the last 5 weeks on the weekly chart

this typically is followed by a sideways trading zone, a brief dip and a continuation long followed

It also cemented more up-move confirming the build of a likelier cup and handle formation which also strengthens the bull case

we are here at a financing (taking partial profits)zone for the last reload longs for this time frame: