Technical Reviews for Gold, Silver and Bitcoin (June 2017)

Share On Facebook
share on Linkedin
Print

GOLD (XAUUSD)
Dominant Bias: Bullish
Gold began the current bullish movement on May 9, 2017 forming a bullish bias on the market. Price is currently above the support level at 1270.00, going towards the resistance level at 1280.00. Before May 9, 2017, there was a severe selling pressure in the market, but that May loss has now been fully recovered. In June, the outlook on Gold is bullish, for price is expected to go higher and higher. The initial target is located at the resistance level of 1295.22, which was the high of April. There is a possibility that the initial target would even be exceeded.

©

SILVER (XAGUSD)
Dominant Bias: Bearish
Silver is also bullish, now above the demand level at 17.2000. The market went bearish from April 17 to May 9, 2017. However, further bearish movement was rejected at 16.0613, as a serious bullish movement began, which has held up until now. There is a Bullish Confirmation Pattern in the market, which signals more northwards journey. Price is supposed to gain a minimum of 10,000 pips this month, but the ultimately target that is unlikely to be exceeded is the high of April – 18.6493. The bullish expectation does not rule out probabilities of temporary pullbacks.

BITCOIN (BTCUSD)
Dominant Bias: Bullish
This market, which is becoming more and more popular, has recently experienced maniacal volatility. Both the long-term and the short-term biases are bullish. Price has been going upwards from the beginning of this year, topping at 2797.27 on May 25. That was followed by volatile bearishness which lasted till the end of May. Bitcoin is now less volatile when compared to the last several days of May; plus price has been moving up gradually. The market is expected to go upwards in June, recovering the loss it suffered in May. The aforementioned high (top) of May could be reached or exceeded.

Source: www.tallinex.com

 

Traders’ Mindset: Traders’ Mindset

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20220128 02:40:14