Gold: An uptrend will start as soon as the market rises above the 1740 level

Wednesday forecast (September 31, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 1740, which will be followed by moving up to resistance level 1758.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 1740, which will be followed by reaching support level 1714.5.

Weekly forecast (August 29 – September 2, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 1778.8, which will be followed by moving up to resistance level 1808 – 1826.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 1778.8, which will be followed by reaching support level 1696.

Previous week forecast

Monthly forecast, August 2022

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 1786, which will be followed by reaching resistance level 1876.

Downtrend scenario

An downtrend will start from resistance 1786, which will be followed by moving down to support level 1676 and if it keeps on moving down below that level, we may expect the market to reach support level 1557.