Gold forecast today Trend of quotations analysis until October 2020

forexgann

Gold forecast today Trend technical analysis

Gold forecast today using the temporal cycles and the technique of the American economist William Delbert Gann.

gold forecast today
Gold weekly september 10 of 2020

Short term Gold forecasts today

After to the end of the medium term correction, between the week of 9th September 2011 and that of 4th December 2015, a large accumulative area was created.

In particular the weeks of 4th December 2015, 16th December 2016 and that of 17th August 2018 have generated the formation of a triple minimum, together with a double maximum pointed out in the weeks of 8th July 2016 and 26th January 2018.

The trading range area was formed between 1.366$ and 1.100$.

Last summer, the positive infraction of 1.388$ has confirmed the end of the lateral area and the birth of a new bull-campaign.

In the first months of 2020 we have witnessed an important ascending acceleration of Gold quotation until they have reached the bullish infraction of the historical top of September 2011 between last July and August.

In particular, in the previous reports we have pointed out the weeks of 03-10 July as important weekly Sets Up in which the market would have sign an important turn.

In effects, in the following weeks Gold quotations are going from 1.789$ to 2.075$ (weekly top of 7th August 2020).

The further Minimum Square in expiration in the week of September,4th will indicate us if there will be a new positive acceleration of Gold.

If the prices will remain above 1.997$ level The market will go on with its ascending run: first resistances of short term at 2.032$; 2.150$.

Below 1.897$ level, Gold will start to express its first short term weakness.

Supports at 1.905$; 1.866$.

Medium term Gold trend

gold forecast 2020
Gold monthly september 10 of 2020

The acceleration of market quotations has become more evident after the monthly Set Up of May 2019.

This signal is described in the previous reports. The passage in that temporal context for the Zero angular vector (radiated in yellow by the software) has produced a bullish push still existent.

From the Range Square expired last May, the Gold market has maintained its positive trend without any downwards violation of the minimum of the previous candle.

Last medium term signal is expired last July-August.

The trend is still confirmed its positive phase until the next temporal Set Up.

In this last phase we could observe a new absolute maximum, in effects there are further angular resistances at 2.100$; 2.200$. We will also assist to a following phase of lateral consolidation with negative retracements that will have as dynamic obstacle 1.855$; 1.800$ area.

This technical report is realized thanks to Top Trader© Stock Exchange graphic software

 

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