Gold Forecast, Technical Analysis

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  • GOLD, (GC) Futures market
    Thursday forecast, May 21

    Uptrend
    The uptrend may be expected to continue in case the market rises above resistance level 1739.5, which will be followed by reaching resistance level 1744.7 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1753 – 1757.
    Downtrend
    An downtrend will start as soon, as the pair drops below support level 1727.2, which will be followed by moving down to support level 1715.4.

    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.

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