Tuesday Forecast
Uptrend scenario
The uptrend may be expected to continue, while the gold market is trading above support level 1884, which will be followed by reaching resistance level 1889 and if it keeps on moving up above that level, we may expect the market to reach resistance level 1916.30.
Downtrend scenario
A downtrend will start as soon, as the gold market drops below support level 1884, which will be followed by moving down to support level 1864.
This/Next Week Forecast (November 16 - 20, 2020)
Uptrend scenario
The uptrend may be expected to continue, while the gold market is trading above support level 1848,20, which will be followed by reaching resistance level 1933,15.
Downtrend scenario
A downtrend will start as soon, as the gold market drops below support level 1848,20, which will be followed by moving down to support level 1780.
Previous week gold forecast chart
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
Uptrend scenario
An uptrend will start as soon, as the gold market rises above resistance level 1966, which will be followed by moving up to resistance level 2033 and 2075.
Downtrend scenario
A downtrend will start as soon, as the gold market drops below support level 1933, which will be followed by moving down to support level 1848.
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