This/Next Week Forecast (December 7 – 11, 2020)
An uptrend will start as soon, as the market rises above resistance level 2703, which will be followed by moving up to resistance level 2825 – 2923.
The downtrend may be expected to continue, while market is trading below resistance level 2703, which will be followed by reaching support level 2514 and 2410.
previous week forecast
Difference between supply and demand shows fair price at the level 2800 – 3100, but new covid wave and lockdown increasing create additional downtrend pressure.
Monthly Forecast, December 2020
The uptrend may be expected to continue in case the market rises above resistance level 2875 – 2923, which will be followed by reaching resistance level 3100.
An downtrend will start as soon, as the market drops below support level 2665, which will be followed by moving down to support level 2410 and if it keeps on moving down below that level, we may expect the market to reach support level 2160.
previous month forecast