Technical Reviews for Gold and Silver (November 2018)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold is bearish is the long-term, but neutral in the short-term. Since April 2018, price has shed 20,000 pips, reaching a yearly low of 1159.00. However, price has been ranging since the yearly low was reached in August, as speculators await breakouts of the price. There have recently been wild upwards and downwards swings, which have not been strong enough to put an end to the ongoing sideways movement in the market. This is supposed to happen before the end of November and the most probable direction is towards the north.
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SILVER (XAGUSD)
Dominant Bias: Bearish
Exactly like Gold, Silver is also bearish in the long-term and sideways in the short-term. Since the top of April 2018, price has gone downwards by over 30,000 pips, reaching an annual low of 13.0000 in September 2018. Since then, the market has become very choppy with no directional movement. A movement towards the annual low will give emphasis to the ongoing Besrish Confirmation Pattern in the market; otherwise a protracted bullish movement, which goes on for a few days consecutively, will result in a valid bullish signal.

 

Source: www.tallinex.com

 

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