GOLD Tuesday Forecast

Tuesday Forecast

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1844, which will be followed by reaching resistance level 1863.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1838, which will be followed by moving down to support level 1828 and if it keeps on moving down below that level, we may expect the market to reach support level 1817 and 1802.

Chart Gold This/Next Week Forecast, Technical Analysis

This/Next Week Forecast (February 8 – 12, 2020)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1830, which will be followed by moving up to resistance level 1863 – 1875.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 1830, which will be followed by reaching support level 1780.

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 1750, but new covid wave and lockdown increase creating uptrend pressure.

Monthly Forecast, January – February 2021

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1857, which will be followed by reaching resistance level 1950.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1957, which will be followed by moving down to support level 1780 and if it keeps on moving down below that level, we may expect the market to reach support level 1680.

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

previous forecast

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