This/Next Week Forecast (December 14 – 18, 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 74.10, which will be followed by moving up to resistance level 75.40 and 78.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 74.10, which will be followed by reaching support level 71.
previous week forecast
Fundamental Analysis
Difference between supply and demand showing fair price on the level 64 – 66.
Monthly forecast, December 2020
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 71, which will be followed by reaching resistance level 78.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 71, which will be followed by moving down to support level 67 and if it keeps on moving down below that level, we may expect the market to reach support level 57.
