gold forecast 2019

gold quarterly september 2019

Gold Forecasts Gold Price Trend

Gold Forecasts Gold Price Technical Analysis through W.D. Gann’s cycles

Gold price forecast trend in the medium term

As expected in the last article, the bullish breakup of temporal May 2019 Set Up has pushed the Gold dynamics to a strong bullish acceleration.
In June, in fact, the Gold has passed from a minimum of 1.305,27$ reached on the 1X1 angular support, up to a maximum of 1,439.14$, breaking the 1X2 dynamic resistance with December 2015 origin (yellow colored on the slide).
The next month, on July 2019, the Gold market retracement has stopped at the resistance, now transformed into support, at level 1,381$.
From this support, the Gold price has found a new upward leap in August, reaching the dynamic resistances of the 1X1 Zero corner and the 2X1 corner started in August 2018 at level 1,555$ (yellow colored in the slide).
In September and October 2019 important time cycles expire, and we will be able to see a change in the Gold market upward trajectory, if certain conditions will be verified.
If the price should fall below level 1,390$, then the trend will reverse negatively: first supports at 1,442$, 1,416$.
If the upward trend will push trades above level 1,565$, the upward trend of Gold prices will be confirmed: first resistances at 1.610$; 1,690$.

Gold price medium and long-term forecasts

As it is clearly visible on the slide, the ascending corridor determined by the 1X2 Zero corner and the 1X2 corner has blocked the first ascending phase in September 2016. At this juncture the quotations has also met the 1X1 descending corners in 1,370$ area.
In the third quarter of 2019 Gold prices has again met the upper part of the corridor together with the 1X1 corner ascending from the 2015 minimum at level 1,557$.
The violation of level 1,366$ will reverse the long-term dynamics: first supports at 1,340$; 1,320$.
The Gold price technical analysis was carried out thanks to Top Trader© Stock Exchange software.