Weekly forecast
(August 31 - September 4, 2020)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 2033, which will be followed by reaching resistance level 2175.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1920, which will be followed by moving down to support level 1862 and if it keeps on moving down below that level, we may expect the market to reach support level 1795 - 1740.
previous week gold forecast chart
Long-term forecast
(Quarter III: July - September, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1920 - 1795, which will be followed by reaching resistance level 2175 - 2400.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1795, which will be followed by moving down to support level 1500 and 1350.
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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