Thursday Forecast
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 52.50, which will be followed by reaching resistance level 53.25 and if it keeps on moving up above that level, we may expect the market to reach resistance level 53.90.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 52.50, which will be followed by moving down to support level 51.45.
Previous day forecast
This/Next Week Forecast (January 11 – 15, 2021)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 54.60, which will be followed by reaching resistance level 57.40.
Downtrend scenario
An downtrend will start from resistance levels 53.50 – 54.60, which will be followed by moving down to support level 48.30.
Previous week forecast
Fundamental Analysis
Difference between supply and demand shows fair price between the levels $53.
Monthly Forecast, January 2021
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 43.00, which will be followed by reaching resistance level 53.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 43.00, which will be followed by moving down to support level 36.10 – 33.60.