Gold forecasts today technical analysis of Gold market

Gold monthly may 2018

Gold forecasts today technical analysis of Gold market

Gold forecasts today technical analysis of Gold market using W.D.Gann’s time cycles

Gold forecasts today technical analysis of Gold market: monthly

The 1 X 2 angular resistances descending from the top of September 2011 and October 2012 have  rejected the bullish acceleration in September 2017. They were breaked to the upside in the last Set Up of January 2018. However, the Gold market was lateral from February 2018 until last April. The positive kinetic thrust was not enough to break the static resistances in the $ 1,370 area: the quotations gradually dropped the 1 X 1 ascending corner and they reached the 1 X 2 ascending dynamic support in conjunction with the historical resistances mentioned just above that now have become supports.

The important Set Up of May 2018, still in progress, indicated the weakness of the yellow metal that arrived near these 1 X 2 supports indicated in yellow on the slide just above. Therefore, the trend for the next few months is determined precisely by the level of May 2018.

If in the coming months will be broken $1,335 area, then a new positive trend will be restored with first static resistances still at $1,370, but with end-of-trend target well over $1,400.

The negative violation of this supports or of the minimum of May would trigger a marked corrective movement in the coming months with first supports in the area $1,230; $1,280.

Gold forecasts today  technical analysis of Gold market: quarterly

The Gold medium and long-term trend has been affected by this moment of negative laterality that reversed the swing chart in the second quarter of this year. Also in this case if in the third quarter prices will reach above $1,370, then the next resistance area will be $1,450-70. While the negative continuation and the abandonment of the 1 X 1 ascending corner would bring back the prices to the next dynamic support at $1,230.

The analysis of the Gold dynamic has been carried out thanks to Top Trader©-Stock Exchange free software created to correctly apply W.D.Gann’s technique.