GOLD
(XAUUSD)
Dominant
Bias: Bullish
Gold
moved upwards in the first few days of July and then began to consolidate to
the downside. The downside consolidated was conspicuous from July 13 to 27. But
in the last few trading days, price started moving upwards gradually – an
action that saves the current bullish bias in the market. Since the bias is
bullish, it is normal to expect price to continue going upwards, seeing the
downside consolidation in the middle of July as an opportunity to buy.
SILVER
(XAGUSD)
Dominant Bias: Bullish
Just like Gold, Silver also started July 2016 on a bullish
note, but began to correct downwards in the middle of the month (especially
from July 11 to 27). Price managed to
end July on a bullish note, and thus, might continue trending upwards. This is
a bull market, in spite of machinations of bears. In August, dips in the market
would offer good opportunities to go long at better prices, for bulls might be
able to target the resistance levels at 21.0000, 22.5000 and 23.0000.
BITCOIN (BTCUSD)
Dominant Bias: Neutral
Bitcoin has become a flat market. Price has been moving sideways
for weeks, though it is volatile. This kind of volatility is has not taken the
market anywhere, save transient bearish movements, alternated by transient
bullish movements, which are nothing significant on higher time horizons. There
is currently a struggle between bulls and bears, and price would begin to trend
strongly when one group is dominated, i.e. when the market goes out of balance.
That is exactly what would happen in August.
Buy and sell Neteller here; get funded quickly: www.ituglobalfx.com.ng
No comments:
Post a Comment