Gold Forecast - Thursday, Oct. 15

Thursday Forecast

Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 1886, which will be followed by reaching resistance level 1920 - 1928 and if it keeps on moving up above that level, we may expect the market to reach resistance level 1952.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 1866, which will be followed by moving down to support level 1848.

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Previous day forecast

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This/Next Week Forecast (October 12 - 16, 2020)

Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 1920, which will be followed by reaching 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
A downtrend will start as soon, as the market drops below support level 1920, which will be followed by moving down to support level 1848.

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Previous week gold forecast chart

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Fundamental Analysis

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

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

Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 1920 - 1795, which will be followed by reaching resistance level 2175 - 2400.
Downtrend scenario
A 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.

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