GOLD (GC), Wednesday forecast, May 20

GOLD, (GC) Futures market
Wednesday forecast, May 20

Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 1757.6, which will be followed by reaching resistance level 1764.2 and 1775.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1749.5, which will be followed by moving down to support level 1742.4 – 1738.

Weekly forecast, May 11 – 15
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 1692, which will be followed by reaching resistance level 1742 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1780 – 1788.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1692, which will be followed by moving down to support level 1666.

Monthly forecast, May 2020
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 1742, which will be followed by reaching resistance level 1780 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1827.
Downtrend
An downtrend will start as soon, as the pair drops below support level 1666, which will be followed by moving down to support level 1579.