Gold forecast 2020 technical analysis medium and long term

gold forecast 2020

Gold forecast 2020 Stock Exchange trend in medium and long-term

Gold forecast 2020 technical analysis through the time cycles of the US economist W.D. Gann.

Gold forecasts 2020
Gold monthly july 2020

Gold trend 2020 in the medium term

From the first months of 2016, the Gold market has begun a long accumulation phase which has in fact interrupted the corrective trend started from the end of 2011.

There may be a triple minimum in the month of December 2015, December 2016, August 2018, which is alternated to a triple maximum.

More precisely, July 2016, September 2017 and April 2018.

In that period it can be found that 1X2 descending vectors with origin from the top of September 2011 and October 2011 (illustrated by the software with the yellow color) has provided an important obstacle.

In fact, the trading range, even more marked between February-April 2018, has indicated a phase of weakness in the exchanges of the yellow metal.

The time signals highlighted in the previous reports on the Gold of October 2018 has indicated the end of the accumulation phase, with the slow start of an upward trend.

The clear positive infraction of the downward angular resistance in December 2018 has lead the market towards a new “Bull Campaign”.

In fact it can be seen that, at each negative retracement, the 1X1 angle and 1X1 Zero offer solid dynamic supports (plotted with red color in the graph).

In June 2019 we have observed a first important acceleration: prices are going from an area of $ 1,300 to $ 1,550.

Since September 2019 the quotations in $ 1,500 area have undergone further lateralization due to the 1X4 resistances descending from the tops of September 2011 and October 2012, illustrated in purple in the photo just above.

However since the beginning of 2020 more conflicting forces were generated in the Gold market.

Gold forecast in the medium term

Several time cycles have been overlapped during the month of February, March and April 2020, generating a complex and not very linear period in Gold dynamics.

In fact, we have observed some bullish breaks, a bearish out-side in March and a positive violation of the bearish out-side last April.

This positive breach has positively shaped the trend of exchanges in the medium term.

The last signal to expire is July 2020. Only the negative breach of $ 1,658 share would set a new negative phase in Gold prices.

First resistance at $ 1.806; $ 1,824.

Gold long period technical analysis

The positive acceleration after the accumulation phase is even more visible in the quarterly time frame.

As we can observe in the picture just above, 1X4 descending vectors (illustrated in purple from the software) have provided dynamic obstacles to the up trend, which were broken to the upside.

Currently exchanges are reaching the absolute top of 2011 to move towards new highs.

Only reaching $ 1,555 would indicate a first major slowdown in the current phase: first angular supports at $ 1,624.

The technical framework of Gold forecasts was created through the use of the Top Trader© graphic program.

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