Tuesday Forecast
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 46.70, which will be followed by reaching resistance level 48.12 and if it keeps on moving up above that level, we may expect the market to reach resistance level 49.30.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 46.70, which will be followed by moving down to support level 45.55.
This/Next Week Forecast (December 21 – 25, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 47.70, which will be followed by reaching resistance level 53.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 47.70, which will be followed by moving down to support level 45.55.
previous week forecast
Fundamental Analysis
Difference between supply and demand shows fair price between the levels $45 – 53, but new covid wave and lockdown increasing create downtrend pressure to the level $30.
Monthly Forecast, December 2020
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 43.00, which will be followed by reaching resistance level 53.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 43.00, which will be followed by moving down to support level 36.10 – 33.60.
previous month forecast
