GOLD
(XAUUSD)
Dominant
Bias: Bullish
Gold
moved upwards by over 12400 pips last month, and price reached a high of
1358.21 that month. There is a Bullish Confirmation Pattern in 4-hour, daily
and weekly charts, so it is not advisable to open short trades in the market.
Any bearish attempts the market makes ought to be short-lived, proffering
opportunities to go long at better prices. Further bullish movement is possible
this month, which would enable price to first breach the high of June (1358.21),
and then go towards the resistance levels at 1360.00, 1380.00 and possibly,
1400.00.
SILVER
(XAGUSD)
Dominant Bias: Bullish
Recently, the bullish movement on Silver has been stronger
than the bullish movement on Gold. Since the beginning of June 20016, till now,
price has gone upwards by over 3200 pips, reaching a high of 19.3600 on July 1.
There is a strong bullish outlook on the market – something that is supposed to
continue this week. It is also possible that sales would be temporary in the
context of this uptrend, as bulls target the demand levels at 19.5000, 20.0000
and 21.0000.
BITCOIN (BTCUSD)
Dominant Bias: Bullish
Bticoin went beyond our target for last month. Price broke
above the accumulation territory at 600.00, reaching a high of 775.92. The
buying pressure on the market still exists, and further northward attempts
would be seen this month, which may enable the market to recover the massive
sell-offs it experienced within June 19 to 23. Although the presence of bears
poses threats, the targets for month are located at the distribution
territories at 775.00, 780.00 and 800.00.
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