GOLD (XAUUSD)
Dominant Bias: Bullish
Gold is now a bull market, which
is supposed to continue for some time. The bullish trend that has started on
Gold since the beginning of this year came under attack from February 27 to
March 14. Price reached a low of 1194.73 in March, and then moved upwards by
roughly 6500, to help reinforce the existing bullish trend. April has been started on a bullish note and
price may continue going upward and upwards, reaching the resistance levels at
1270.00, 1290.00 and 1300.00. Price is about to break the high of March, which
is 1260.83.
SILVER (XAGUSD)
Dominant Bias: Bullish
Just like Gold, Silver has been
in a bullish trend since January 2017, and the bullish trend is supposed to
continue going upwards and upwards. Within March 2 – March 14, the market came
under heavy selling pressure, which almost brought the bullish trend to an end.
However, price started going upwards on March 15, and price has gone upwards
significantly since then, establishing bulls’ supremacy once again. Price is
now close to the high of March, which is 18.462. After breaking the high to the
upside, price would then go towards the supply levels at 18.5000, 19.0000 and
19.5000.
BITCOIN (BTCUSD)
Dominant Bias: Bullish
Bitcoin, which has been trending
upwards for several months, was mostly bearish in March. Price was highly
volatile and choppy that month, as it went steadily southwards. Nonetheless,
the southward movement was not strong enough to completely override the extant
bullishness in the market. Last week, price began making some effort to go
upwards. The effort to go upwards is still in place and it is expected to
continue as price goes towards the distribution territories at 1150.00, 1180.00
and 1200.00 within the next few weeks. The distribution territory may even be
exceeded.
Traders’ Mindset: Traders' Mindset
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