CMS Daily Market Report 6th January 2022

Gold rose to the 1829 level on Thursday, but with pressure from traders in the area, it closed at the 1810 level at the end of the day and formed the Bearish pin bar. Price behavior on Wednesday indicates the pressure of sellers at higher levels and the possibility of price correction.

Silver also failed to cross the resistance level of 23.25 on Wednesday and at the end of the day fell more than 1% and closed in the range of 22.79. Currently, according to the price position in the 4-hour chart, any price increase towards the 23.11 range is a sell opportunity and there is a possibility of a price decrease up to the 22.53 range.

 

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