Gold forecast today

Gold price monthly

Gold forecast today and technical analysis

Gold forecasts today in the short and long term through the trading signals and technique identified by the theory of the economist William Delbert Gann.

Gold chart with weekly framework

Gold forecast today in the weekly time frame

With the deadline of the week of April 29th, we have seen the end of a lateral trend and a restart of the corrective trend.

Although the static octave supports generated several lateral phases, the short trend maintained strong negative returns.

As can be seen in the slide just above, the lateral period between May 20 and June 17, led the prices to test the 1×1 angle (red vector):

the trend on that occasion started a new downward phase.

The same goes for the period from 22 July to 12 August: the dynamics of prices just reached the 1×2 descending angle (yellow colored) began to fall back, reaching a low of $ 1,614 in the week of 30 September.

The latest signal of October 14, 2022 indicated the birth of a new phase of weakness: next supports in $ 1,613 area; $ 1,595.

However, the Set Up weekly on October 28 will determine the new short term trend.

Further supports in the $ 1,553 area, while the resistances are in area $ 1,740.

Medium term Gold trend 2022

With the bearish break of the low of March during the April 2022 monthly Set Up, the Gold market trend reversed from positive to negative.

The 1×2 Zero angles visible as ascending vectors in yellow have unsuccessfully hindered the descent of prices which went from $ 1,910 in April to $ 1,614 last September.

The basis of the triple bottom formed by the Set Up of March 2021, September 2021 and July 2022 on the $ 1,682 area was violated during the monthly signal of last September.

October 2022 coincides with a new monthly Set Up, Minimum Square.

The continuation below $ 1,605 will confirm the negative trend: subsequent supports in area $ 1,555.

While the recovery above $ 1,745 will indicate the birth of a new upward dynamics: resistance in area $ 1,790.

Long term Gold technical analysis

In the third quarter of 2022, the long term trend reversed negatively, breaking down the low of the third quarter of 2021 at $ 1,680.

The descendent acceleration has brought prices in the third quarter of 2022 to $ 1,615 on angular and Zero 1×2 supports.

Further levels for the descent are in area $ 1,550; $ 1,490.

Only a return above $ 1,824 will indicate the resumption of a new long term bullish run.

Gann technique and Gold trading signals

The Gann technique bases the linear geometric mathematical forecasting model through the correlation of two dimensions, namely price and time.

The economist considered the third dimension of volumes separately.

He concentrated most of his scientific work on the time dimension.

In fact, after many years of testing he discovered a series of very effective temporal cycles that identify the major changes in the market trend.

Within these Dynamic and Natural temporal cycles there are particular sections in which the price-time ratio most influences the Stock Market returns and which constitute the Set Up that is the trading signals.

The Top Trader© Stock Market software was designed to correctly apply Gann’s theory to all the financial markets.

The software utilities also allow simulations with dynamic payoffs through the Greeks, in order to generate protection strategies in the event of financial shocks.