GOLD, Tuesday forecast, November 19

Forecast and technical analysis

Uptrend

The uptrend may be expected to continue in case the market rises above resistance level 1475.3, which will be followed by reaching resistance level 1487.

Downtrend

A downtrend will start as soon, as the pair drops below support level 1469, which will be followed by moving down to support level 1458.

Weekly forecast, November 18 – 22

We won’t have any important news before Wednsday this week, so it can be the reason for the market’s correction, where key support is 1457 and resistance is 1473.

Weekly Forecast and technical analysis

Uptrend

The uptrend may be expected to continue, while the pair is trading above support level 1457, which will be followed by reaching resistance level 1473 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1487.

Downtrend

Downtrend is not expecting on this week, below 1457 we can reach next support on 1446 after that market will be trading sideways between levels 1446 – 1457.

 

Monthly forecast, November – December

Downtrend

The downtrend may be expected to continue, while the pair is trading below resistance level 1517.8, which will be followed by reaching support level 1487 and if it keeps on moving down below that level, we may expect the pair to reach support level 1459.

Uptrend

An uptrend will start as soon, as the pair rises above resistance level 1517.8, which will be followed by moving up to resistance level 1534 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1556.8.

The article was written by Anton Kolhanov