Thursday Forecast
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 427.50, which will be followed by reaching resistance level 437.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 421.50, which will be followed by moving down to support level 403.
This/Next Week Forecast (November 16 – 20, 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 425, which will be followed by moving up to resistance level 460.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 425, which will be followed by reaching support level 390 and if it keeps on moving down below that level, we may expect the market to reach support level 355.
previous week forecast
Fundamental Analysis
Difference between supply and demand shows fair price on the level 370 – 390.
Monthly Forecast
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 425, which will be followed by reaching resistance level 460.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 390, which will be followed by moving down to support level 355.
