GOLD (XAUUSD)
Dominant Bias: Bearish
Gold is a bear market. In August
price dipped by over 6000 pips, reaching around the support level of 1160.00 (a
support level). From there, price moved upwards by 5000 pips and then moved
sideways till the end of the month. All this happened in the context of a
downtrend; plus the market has been moving sideways in the last two weeks. A
breakout is imminent, and that would happen anytime before the end of September
and it would most probably favor bears. Thus price is expected to go downwards
by at least 5000 pips from here.
SILVER (XAGUSD)
Dominant Bias: Bearish
Just like Gold, Silver is also
bearish, but its downwards movement is more pronounced than that of Gold. Price
dropped roughly 10,000 pips in August alone and it has dropped 32,000 pips
since June 14, 2018. Owing to the current Bearish Confirmation Pattern, it is
rational to expect further bearish movement (at least another 10,000 pips) in
September. 4000 pips have already been lost this month, and after the current
consolidation ends, further bearish journey should continue, leading to more
shedding of pips.
Source: www.tallinex.com
Market Analyst, Trading Signals Provider and Coach
Trading realities: Trading realities
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