CMS Daily Market Report 29th December 2021

According to the analysis, gold rose to the 1820 range on Tuesday, but with pressure from traders in the area, it closed at the 1806 level at the end of the day and formed a Bearish pin bar. Given the dominance of sellers on Tuesday, now any price increase to higher levels is a sell opportunity and the way to reduce prices to the range of 1801 is provided.

Silver, like gold, formed a Bearish pin bar yesterday, indicating the dominance of Bears in this area. Given the price position in the 4-hour chart, the price is currently below the resistance trend line, and any price increase towards the 23.15 range is a sell-off, and the path for price correction to the 22.60 range is provided.

 

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