Technical Reviews for Gold, Silver and Bitcoin (September 2016)

1 September 2016, 21:28
1246536 Ernest G.

Content courtesy of Tallinex Limited


Dominant bias: Bearish
Gold generally consolidated from August 1 to 19 before starting to move south sufficiently to bring about a bearish market bias. Price has fallen 3500 pips since August 22, so short trades are illogical right now, but further bearish movement is anticipated for September - possibly reaching the demand levels at 1290.00, 1280.00 and 1270.00.

Dominant bias: Bearish
Silver declined from August 1 to 26, before moving sideways until the end of the month. This resulted in a Bearish Confirmation Pattern as price reached a high of 20.7500 and a low of 18.3550 in August. Additional southward movement is possible, so price could test the support levels at 18.5000, 17.5000 and 16.5000 before the end of the month. However, a bullish reversal should occur at some point, which may also affect Gold.

Dominant Bias: Neutral
This was a flat market throughout August, other than the bearish move on the last day of July and the first few days of August. Price has been volatile on lower timeframes, but directionless. This may continue through September, but a strong move should soon occur - most probably downward. The short term outlook is neutral and the long term outlook is bearish.

Azeez Mustapha
Currency Analyst
Tallinex Limited
The Jaycees Building, Stoney Ground
PO Box 362, Kingstown, VC0100
St Vincent and the Grenadines

Privacy: You have been sent this email because of your existing relationship with Tallinex Limited - a company registered in St Vincent and the Grenadines (No. 22199 IBC 2014). We will send you similar updates periodically.

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: Tallinex Limited provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects but does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and Tallinex Limited specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Tallinex Limited expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never guarantee of future results.

Share it with friends: