Here’s the market outlook for this month: Content courtesy of Tallinex Limited https://www.tallinex.comGOLD (XAUUSD)
Dominant bias: Bearish
From a high of 1295.87 on June 6, price dropped 5400 pips by month end, and this month has opened on a strong bearish note - losing another 2000 pips already. Any rallies will be transient and offer opportunities to sell short at better prices. Expected further decline of around 3000 pips this month.
Dominant bias: Bearish
There has been a decline since June which hints at continued weakness – bolstered by a huge Bearish Confirmation Pattern. The demand levels at 16.0000, 15.7500 and 15.5000 should be reached before the end of this month.
Dominant bias: Bullish
With the recent bullish aspect ending on June 11, and the bearish move starting on June 12, Bitcoin is now long-term bullish and short-term bearish. Movement below the accumulation territory at 2100.00 will result in a bearish outlook, while a movement above the distribution territory at 2900.00 will reinforce the bullish outlook, and one or the other will be breached before the end of this month.
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