CMS Daily Market Report 7th December 2021

Gold continued to decline for the third week in a row and is now in the middle of a short-term 
downtrend on the weekly chart. The price fell to 1761 last week but closed at 1783 at the end of the week. Given the price position in the daily chart, gold is currently below the resistance trend line, and in the 4-hour chart, the price is in a downtrend.

Silver lost 2.67% of its value last week, hitting 22.55. Given the price position in the weekly chart, the 21.30 range is a very important support range and buying in this range is an attractive option for silver buyers.

 

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