GOLD Thursday Forecast

Thursday Forecast

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1933.50, which will be followed by reaching resistance level 1953.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1914, which will be followed by moving down to support level 1894.

This/Next Week Forecast (October 19 – 23, 2020)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1928, which will be followed by moving up to resistance level 1966 and if it keeps on moving up above that level, we may expect the market to reach resistance level 2033.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1890, which will be followed by moving down to support level 1848.

Chart Gold This/Next Week Forecast, Technical Analysis

previous week gold forecast chart
Chart Gold This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Conditions in currency and interest rates sectors showing fair price on the level 1800 – 1750.

Long-term Forecast
(Quarter III: July – September, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1920 – 1795, which will be followed by reaching resistance level 2175 – 2400.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1795, which will be followed by moving down to support level 1500 and 1350.

Chart Gold Forecast 2020, Long-term Outlook, Technical Analysis

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