GOLD (XAUUSD)
Dominant Bias: Bullish
Gold has been making attempts to
go upwards this month. The attempt started on November 13, when price reached
the monthly low of 1195.90, and since then, price has gained roughly 5200 pips.
This has generated a bullish signal in the market (both in the long-term and
the short-term). The bullish signal is supposed to be sustained until the end
of the year as price gains another 3000 pips minimum, thereby creating a huge
Bullish Confirmation Pattern in the market. Short positions are not currently recommended.
SILVER
(XAGUSD)
Dominant Bias: Neutral
Unlike Gold, which has had a sensible bullish signal
on it, Silver remains neutral, with no directional movement in the last few
weeks. In the long run, the neutrality has been in place since August 2018.
Although there seems to be some noticeable bullish effort in the short-term,
that is not significant enough to result in a bullish signal, unless price goes
above the supply zone at 15.0000, which would require some determined buying
pressure in the market. While the current consolidation will probably continue
for some time, the trend is expected to end before the end of this year,
leading to a breakout that will most probably favor bulls.
Source: www.tallinex.com
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