Gold forecast today: graphical course trend in medium and short term

gold forecast today

Gold forecast today: quotations trend and monthly and weekly graphic

Gold forecast: medium and short term dynamics analysis using the temporal cycles of W.D. Gann.

Weekly Gold graphic with Gann’s vector

gold price forecast
Gold weekly 10.29.20

Weekly Gold forecast

The gold market has a long-term bullish trend, with strong positive returns, although in some short-term phases it shows technical corrections.

The Bull campaign has begun with the formation of a triple weekly minimum and more precisely that relating to December 4, 2015, December 16, 2016, August 17, 2018.

After this last low, the expansion phase of the upward cycle of the Gold market has begun.

The triple swing that took place between the end of 2019 and April 2020 has a particular importance in the ascending phase.

In fact, in this period we have observed a first bullish price course from November 15th to March 13th, then a rapid correction until March 20th, in which the prices reached the previous low of November 15th.

Subsequently, the following movement was again upward.

In the week of April 17 this year, Gold has breached the high of March 13, the high of the first movement, reaching a weekly high of $ 1,747.

This latest swing has led the prices to a further bullish acceleration until the expiry of the weekly Set Up of August 14, Minimum Square.

In this circumstance, the prices has quickly corrected:

from a level of $ 2,049.89, prices has reached $ 1,863.26 in the same week.

This was a clear over-balance of the price-time in which the market has indicated a momentary stop to the growth of prices.

In fact, in the following weeks we have witnessed a rather lateral period, in which highs and lows alternated until the next weekly Set Up of 25 September 2020, a new Minimum Square.

The breach of 1,928$ has resulted in a negative acceleration, which has brought prices back as visible on the slide just above on the 1X1 angle radiated in red by the Top Trader© Stock Exchange software.

The past weeks of October has been all inside, that is the maximum and minimum levels are within the previous maximum-minimum.

The first two are inside the body of the candle of 25 September, the next are inside each other.

This price compression must necessarily lead to a new directional trend.

The recovery of $1,938 will indicate a new positive directional phase, with the first hurdles at $ 1,977.

The violation of $ 1,877, on the other hand, will show the start of a negative dynamic that will see as targets $ 1,800; $ 1,760 area.

The wait after these levels will be for a quick recovery.

Medium term Gold quotation trend

gold price forecast 2020
gold monthly 10.29.20

The triple swing described in the weekly time frame is also visible in the monthly time frame.

The months of February, March and April 2020 coincide with temporal signals that have generated competing dynamic forces.

With a violation of $ 1,693 level in April, the Gold market has restored the medium-term positivity, which it maintained until the expiry of the next Minimum Square cycle in August and September.

In September, the prices has broken the low of August to the downside, witnessing the birth of a new medium term corrective trend.

Also in the latter period, October and November, we are witnessing a correction of the yellow metal, although with a lateral trend.

The 1X1 angles, radiated of red by the Top Trader© software, will be support points for the birth of a new positive pull-back.

In October, the dynamic radiant vectors has quoted $ 1,855; $ 1,760.

Only the return above $ 2,002 will re-establish a new medium-term uptrend.

Gold forecast analysis through Top Trader© software

The analysis article using the Gann technique was created with the graphic support of the Top Trader© software available in this blog.

There are many markets with different time frames available in the program, including the gold market. Angles, Gann squares and strategies can be identified with the Call and Put options.

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