Thursday Forecast
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2.775, which will be followed by moving up to resistance level 2.823 and if it keeps on moving up above that level, we may expect the market to reach resistance level 2.895.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2.775, which will be followed by reaching support level 2.705 and if it keeps on moving down below that level, we may expect the market to reach support level 2.585.
This/Next Week Forecast (January 11 – 15, 2021)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2.775, which will be followed by moving up to resistance level 3.000 – 3.200.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2.600, which will be followed by moving down to support level 2.300.
Previous week forecast
Fundamental Analysis
Difference between supply and demand shows fair price on the level 2.7.
Monthly Forecast, January 2021
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2.700, which will be followed by moving up to resistance level 3.200 – 3.400.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2.700, which will be followed by reaching support level 2.150.