Metals and Bitcoin show signs of a reversal - What lies ahead?

After months of sideways price action with a bearish bias, gold and silver have given a bullish signal on their respective weekly charts. Copper has given a strong buy signal in an uptrend. Bitcoin has formed a strong bottom.

Here is a short technical interpretation of the price action on the weekly charts for metals and Bitcoin

Silver has formed a strong hammer at a double bottom

Gold has formed a weak hammer, but after a sell failure, making the signal strong

Copper has formed a strong Bullish Engulfing after a reverse hammer the prior week, a sell failure

Bitcoin shows a Bullish Harami formation for the last week at a double bottom after a minor breach of the previous bottom that formed in the first week of February below 60K, technically a sell failure.

All above instruments have a buy signal triggered, due for a sharp technical rebound the week ahead. However, only time can tell what happens next in these uncertain times.

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