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Monthly Technical Reviews on Gold and Silver (August 2015)

Discussion in 'Commodity vs Dollar' started by Currency Expert, Aug 3, 2015.

  1. Currency Expert

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    GOLD (XAUUSD)

    Dominant Bias: Bearish

    Gold fell by over 8000 points last month, testing the support level at 1084.90 before experiencing a pause in the bearish momentum. Price dived significantly, reaching the monthly low of 108.90 on July 24, 2015. Then it started moving sideways for the rest of the month. The bias on the market remains bearish, and when a breakout does occur, it is more likely to be to the downside. The support levels at 1075.00, 1065.00 and 1050.00 could thus be tested this month. On the other hands, bullish attempts could force price to foray into the resistance levels at 1115.50 and 1125.50 – which are supposed to halt further northward attempts. Any movement above these resistance levels would mean the bearish bias could be over.



    SILVER (XAGUSD)

    Dominant Bias: Bearish

    Just like Gold, Silver also trended downwards in July 2015. However, price has been ranging in the last two weeks, showing that there would soon be a significant breakout in the market. When the breakout happens, it would be to the downside (just in favor of the extant bias), making price to test the accumulation territories at 14.3100 and 13.5000. Should price go above the distribution territories at 15.2000 and 16.5000, it could result in a Bullish Confirmation Pattern, thereby rendering the bearish outlook invalid.


    Source: www.tallinex.com
     
  2. bourseindia

    bourseindia New Member

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    Be certain you are aware of the true value of the item you wish to buy. Often a coin that you expected to be solid gold may really be gold plated and http://www.bourseindia.com/ncdex.php. Get acquainted with a reputable appraiser and have them appraise the gold items that you are considering buying.
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