GOLD Tuesday Forecast

Tuesday Forecast

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1885, which will be followed by moving up to resistance level 1900 – 1906.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 1872 – 1885, which will be followed by reaching support level 1850.

Chart Gold This/Next Week Forecast, Technical Analysis

This/Next Week Forecast (December 21 – 25, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 1900, which will be followed by reaching resistance level 1950.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1875, which will be followed by moving down to support level 1850 and if it keeps on moving down below that level, we may expect the market to reach support level 1819 and 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 increasing creating uptrend pressure.

Monthly Forecast, December 2020

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1850, which will be followed by moving up to resistance level 1950.
Downtrend scenario
The downtrend may be expected to continue in case the market drops below support level 1780, which will be followed by reaching support level 1680.

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

previous forecast

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