Thursday Forecast

Uptrend scenario

The uptrend may be expected to continue in case the gold market rises above resistance level 1933.50, which will be followed by reaching resistance level 1953.50.

Downtrend scenario

A downtrend will start as soon, as the gold market drops below support level 1914, which will be followed by moving down to support level 1894.

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 Forecast from my previous article: Gold Weekly Forecast, October 19 - 23

This/Next Week Forecast (October 19 - 23, 2020)

Uptrend scenario

An uptrend will start as soon, as the gold market rises above resistance level 1928, which will be followed by moving up to resistance level 1966 and if it keeps on moving up above that level, we may expect the gold market to reach resistance level 2033.

Downtrend scenario

An downtrend will start as soon, as the gold market drops below support level 1890, which will be followed by moving down to support level 1848.

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Previous week gold forecast chart

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