GOLD, (GC) Futures market – Wednesday forecast, May 20
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 1757.6, which will be followed by reaching resistance level 1764.2 and 1775.
Downtrend
A downtrend will start as soon, as the pair drops below support level 1749.5, which will be followed by moving down to support level 1742.4 - 1738.
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.
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
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