Monday, October 3, 2016

Monthly Technical Reviews on Gold, Silver and Bitcoin (October 2016)

Dominant Bias: Bearish
Gold is bearish in the short-term, but neutral in the long-term. In the 4-hour chart, price trended downwards last week, to end September 2016 on a bearish note. Further bearish movement is anticipated this month, which would make price reach the support levels at 1298.00 and 1280.00 and 1270.00. This would make the bias on the daily chart to turn from neutral to bearish. On the other side, a serious rally may enable price to go above the resistance levels at 1330.00, 1350.00 and 1400.00, which may cause a Bullish Confirmation Pattern in the chart.  

Dominant: Bearish    
Just like Gold, Silver is bearish in the short-term and neutral in the long-term. Price is volatile and there would be further struggle between the bull and the bear before price starts trending seriously, which could most probably be in favor of the bear. The bear may target the demand levels at 18.7000, 18.2000 and 17.5000 in October, which would also result in a Bearish Confirmation Pattern in the daily chart. This expectation would be rational as long as price does not go above the supply levels at 19.9000, 20.5000 and 21.0000. This month, Silver is expected to trend more strongly than it did in September.

Dominant Bias: Neutral
Bitcoin remained a flat market throughout September 2016, save the bearish breakout that occurred at the beginning of this month, which turned out to be a false breakout. This flat movement is expected to continue this month, and the only thing that could force the market to go out of balance is an unexpected or extremely strong fundament factor. The outcome would be simple, very bad news would result in massive sell-offs, while very good news would result in a serious rally. A strong movement to the south would be contained at the accumulation territory at 509.00 (the low of August 2016); and a movement to the north may not go above the distribution territory at 775.92 (the high of June 2016).


Super Trading Strategies: Super Traders   

Buy and sell Neteller here; get funded quickly:


  1. You need to remember that the ultimate Bitcoin exchange service is Coinbase.

  2. Earn faucet bitcoins at CLAIM BTC Faucet. Up to 57 satoshis every 20 mins.

  3. At Moon Bitcoin you can claim FREE bitcoins. 514 sat. per day.

  4. Easy multi-currency mining application & 1-click GUI miner.

    Start mining effectively with your computer or smartphone.

    Squeeze the most profit auto-mining coins with the highest returns.

    Download MINERGATE.

  5. Quantum Binary Signals

    Get professional trading signals sent to your mobile phone every day.

    Follow our signals NOW & make up to 270% a day.

  6. eToro is the ultimate forex trading platform for rookie and pro traders.

  7. If you're trying to BUY bitcoins online, PAXFUL is the best source for bitcoins as it allows buying bitcoins by 100's of different payment methods, such as MoneyGram, Western Union, PayPal, Credit Card and even converting your gift cards for bitcoins.

  8. Are you tired of looking for bitcoin faucets?
    Double your claimed satoshis with this amazing BITCOIN FAUCET ROTATOR.


The default minimum deposit amounts are: $100 for Micro accounts, $500 for Pro-Managed accounts, and $2,000 for Pro accounts However, an optional "suggested deposit amount" parameter may be used.