GOLD
(XAUUSD)
Dominant
Bias: Bearish
Gold
generally consolidated from August 1 to 19, 2016; and then began moving south
perpetually. The southwards movement was significant enough to have brought
about a bearish bias on the market.
Price has gone down 3500 pips since August 22, making it illogical to
seek short trades right now. Further bearish movement is anticipated for
September 2016, which may enable price to reach the demand levels at 1290.00,
1280.00 and 1270.00.
SILVER
(XAGUSD)
Dominant Bearish
Silver decline from August 1 to 26, and then moved sideways
till the end of the month. This has resulted in a Bearish Confirmation Pattern
in the market, as price reached a high of 20.7500 and a low of 18.3550 in
August. Further southward movement is possible this month, and price could test
the support levels at 18.5000, 17.5000 and 16.5000 before the end of the month.
Nonetheless, there would be a bullish reversal sometime in future, which may
also affect Gold
BITCOIN (BTCUSD)
Dominant Bias: Neutral
Bitcoin remained a flat market throughout August 2016, save
the bearish movement it underwent on the last day of July and the first few
days of August. Price has been volatile on smaller timeframes and it is
directionless. This sideways movement may continue in September, but a serious
directional movement would soon happen, which would most probably favor bears.
The short term outlook is neutral and the long term outlook is bearish.
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