Author Topic: Technical Reviews for Gold and Silver (April 2018)  (Read 466 times)

Offline analyst75

  • Sr. Member
  • **
  • Posts: 458
  • Country: ng
  • Gender: Male
  • OS:
  • Windows 7/Server 2008 R2 Windows 7/Server 2008 R2
  • Browser:
  • Chrome 65.0.3325.181 Chrome 65.0.3325.181
    • View Profile
  • Age: 38
  • Location: Lagos
  • Profession: Forex expert
Technical Reviews for Gold and Silver (April 2018)
« on: April 04, 2018, 04:11:54 AM »
GOLD (XAUUSD)
Dominant Bias: Neutral   
The market bias is neutral in the long-term and bearish in the short-term. Since February 2018, price has been ranging (whereas December 2017 and January 2018 were bullish). However, going short-term, price dropped sharply in the last week of March, and made a rally attempt on April 3, only to get corrected lower on the following day. Given the current price action, a movement to downside is much more likely than a movement to the upside, when a breakout does occur. There is a strong supply barrier at 1360.00, which has been the major supply zone within the last two months. The demand zones at 1320.00 and 1310.00 would likely be tested this month.


SILVER (XAGUSD)
Dominant Bias: Neutral
Silver is also neutral in the long-term and bearish in the short-term, just like Gold. Price has been consolidating since February; whereas December 2017 and January 2018 were bullish. In a smaller time horizon, last week was bearish, plus this week, whose bearishness follows an abortive effort to effect a rally. A closer observation of the market behavior in the last several weeks reveals that bulls are getting weaker, and thus, bears would take advantage of this by pushing price lower and lower, towards the support levels at 16.2000, 16.1000 and 16.0000. Should this happen, the precarious Bearish Confirmation Pattern in the market would become stronger. 


Source: www.tallinex.com

Advertisements

I simply copy profitable trades on Tallinex: https://www.tallinex.com/mm-details

Nigerian Best Forum . NBF

Technical Reviews for Gold and Silver (April 2018)
« on: April 04, 2018, 04:11:54 AM »

Enter Your Email Below For Daily Jobs Updates, It's Free

100% Free


 

ads