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
You are here : IndiaNotes >> Market Action >> Technical

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

Tallinex - FX Trading | 05 Jul, 2017  | Follow Author | Add to my Favourites 
  • Rate this article
    (Average Rating 0.0 Based on 0 ratings)

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


Dominant Bias:

Gold has turned bearish, owing to the protracted bearish movement that occurred in June. Price reached a high of 1295.87 on June 6, and then began to drop until the end of the month, losing 5400 pips in the process. This month has also opened on a strong bearish note as price goes further southwards, losing another 2000 pips this month. In this market, any rallies should be transient, offering opportunities to sell short at better prices, for price is expected to continue going southwards, losing at least, additional 3000 pips this month.


Dominant Bias:

Silver has gone downwards perpetually since June, and it has also gone downwards so far this month. Price reached the top of 17.7463 in June, and then began to trend downwards. Since June 6, the downwards movement has been in place until now, and price still shows a possibility continual weakness (a huge Bearish Confirmation Pattern has been formed in the market). This month, the downwards movement would enable price to reach the demand levels at 16.0000, 15.7500 and 15.5000 before the end of the month.


Dominant Bias:

The market is bullish in the long-term and bearish in the short-term. The recent bullish movement ended on June 11, and the bearish movement started on June 12. Bitcoin is rather a volatile market, and the volatility is expected to continue as the bear fights to push price further south. A movement below the accumulation territory at 2100.00 would result in a bearish outlook, while a movement above the distribution territory at 2900.00 would reinforce the recent bullish outlook on the market. Either the aforementioned accumulation territory or the distribution territory would be breached before the end of this month.    


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