Gold: A downtrend will start as soon as it drops below 1764,2

Anton Kolhanov Anton Kolhanov

GOLD, (GC) Futures market Monday forecast, May 18

Uptrend

The uptrend may be expected to continue in case the market rises above resistance level 1775, which will be followed by reaching resistance level 1781.2.

Downtrend

A downtrend will start as soon, as the pair drops below support level 1764.2, which will be followed by moving down to support level 1753.

Weekly forecast, May 11 - 15

Uptrend

The uptrend may be expected to continue, while pair is trading above support level 1692, which will be followed by reaching resistance level 1742 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1780 - 1788.

Downtrend

A downtrend will start as soon, as the pair drops below support level 1692, which will be followed by moving down to support level 1666.

Monthly forecast, May 2020

Uptrend

The uptrend may be expected to continue in case the market rises above resistance level 1742, which will be followed by reaching resistance level 1780 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1827.

Downtrend

A downtrend will start as soon, as the pair drops below support level 1666, which will be followed by moving down to support level 1579.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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