Gold, Monday forecast, November 25
Today there is no strong news and market going to be trading technically.
Forecast and technical analysis
Sideways trend
Gold is trading along a sideways trend between support 1455 and resistance 1462.20.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 1462.23, which will be followed by moving up to resistance level 1468.5.
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Weekly forecast, November 25 - 29
Sideways trend
Gold is trading along a sideways trend between support 1455 and resistance 1462.
Uptrend
An uptrend will start as soon, as gold rises above resistance level 1462.2, which will be followed by moving up to resistance level 1472 and if it keeps on moving up above that level, we may expect gold to reach resistance level 1478.
Downtrend
A downtrend will start as soon, as gold drops below support level 1455, which will be followed by moving down to support level 1446.
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Monthly forecast, November - December
Downtrend
The downtrend may be expected to continue, while gold 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 gold to reach support level 1459.
Uptrend
An uptrend will start as soon, as gold 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 gold to reach resistance level 1556.8.
(Click on image to enlarge)
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