VN Research & Consulting
 Like us on facebook  Follow us on twitter  Follow us on LinkedIn  IndiaNotes on Google Plus  IndiaNotes on Pinterest  IndiaNotes on Stumbleupon  Subscribe to our feeds


Stocks  A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Go
Feedback
You are here : IndiaNotes >> Market Action >> Technical

Technical Reviews for Gold, Silver and Bitcoin (June 2017)

Tallinex - FX Trading | 08 Jun, 2017  | Follow Author | Add to my Favourites 
  • Rate this article
    (Average Rating 5.0 Based on 1 ratings)



GOLD (XAUUSD)


Dominant Bias: Bullish 


Gold began the current bullish movement on May 9, 2017 forming a bullish bias on the market. Price is currently above the support level at 1270.00, going towards the resistance level at 1280.00. Before May 9, 2017, there was a severe selling pressure in the market, but that May loss has now been fully recovered. In June, the outlook on Gold is bullish, for price is expected to go higher and higher. The initial target is located at the resistance level of 1295.22, which was the high of April. There is a possibility that the initial target would even be exceeded.


SILVER (XAGUSD)


Dominant Bias: Bearish


Silver is also bullish, now above the demand level at 17.2000.  The market went bearish from April 17 to May 9, 2017. However, further bearish movement was rejected at 16.0613, as a serious bullish movement began, which has held up until now. There is a Bullish Confirmation Pattern in the market, which signals more northwards journey. Price is supposed to gain a minimum of 10,000 pips this month, but the ultimately target that is unlikely to be exceeded is the high of April – 18.6493. The bullish expectation does not rule out probabilities of temporary pullbacks.


BITCOIN (BTCUSD)


Dominant Bias: Bullish


This market, which is becoming more and more popular, has recently experienced maniacal volatility. Both the long-term and the short-term biases are bullish. Price has been going upwards from the beginning of this year, topping at 2797.27 on May 25. That was followed by volatile bearishness which lasted till the end of May. Bitcoin is now less volatile when compared to the last several days of May; plus price has been moving up gradually. The market is expected to go upwards in June, recovering the loss it suffered in May. The aforementioned high (top) of May could be reached or exceeded.   

 




About Tallinex - FX Trading

Tallinex forex broker focuses on risk mitigation, leading us to develop a proprietary trading methodology based on conservative human expertise fundamentals, complemented by computerized intervention, which takes advantage of all major pairs simultaneously. You can also copy successful trades automatically on Tallinex.




Technical Calls

What are technical calls?

Other Articles


Have a question?