Gold price forecast today trend technical analysis May 2021

forexgann

Gold forecast 2021 price trend and technical analysis

Gold price forecast today trend of price dynamics in the short and medium term through William Gann’s Stock Market cycles.

Gold trend chart

gold price forecast
Gold weekly 04.23.2021

Gold today forecast and analysis technique

Since the weekly Set Up of 14 August 2020, the Gold market has generated a complex corrective lateral phase that has come to its completion.

It is visible in the photo just above the upward trend of the yellow metal and how it culminated on the upper side of the 1X1 upward corridor irradiated with red vectors.

The subsequent lateral phase developed in August was completed with a large correction in the temporal cycle that expired on September 25, 2020 at $1848.

After the candle on 25 September, a large positive lateral pull-back was generated which was however blocked by the subsequent weekly Set Up of last 13 November.

Prices formed a large bearish out-side effectively negating the potential positive recovery in November.

The downward trend continued until early December, a period in which the Gold market attempted a new positive recovery, trying to regain the 1X1 ascending angle at $ 1925.

The descending corridor outlined by the 1X2 yellow angles has well marked the corrective dynamics from last August until today.

In fact, the attempt to rebound of the Gold prices in December was again rejected by the upper side of this descending channel, also visible in the photo above.

Subsequently, the new negative trend brought the Gold price in early March 2021 to $ 1767.

The Gold market is trying to break this downward corridor upwards thanks to the Set Up underway in the week of April 23, 2021.

The short-term dynamics is positive and only the return below $ 1758 will restore a new short-term negative lateral phase.

Supports at $ 1742, resistances in the area of ​​$ 1900.

Medium term Gold trend

gold price forecast today
gold monthly 04.23.21

Compared to the short term, the medium-term dynamics are still evolving within the bullish corridor constituted by the 1X2 yellow  dynamic vectors.

Between July-August 2020, the prices reached the upper end while in March-April 2021 the lower end.

The temporal cycles to watch out for are April-May 2021.

In this first phase, the Gold market has already re-established medium-term positivity, which will have to be confirmed in May.

Therefore, only the return below $ 1665 will restore a new corrective phase.

First resistances 1840 $ -1860 $; 1930 $.

Long Term Gold price Forecast

gold price forecast 2021
Gold quarterly 04.23.2021

In the long term, the uptrend suffered a first major stop in the first quarter of 2021.

Only the return above the $ 1970 level will restore a new positive phase: dynamic supports at $1698; $1635.

How to trade on the Gold market

The gold market is one of the most volatile compared to many listed commodities or metals.

One of the most important peculiarity that characterizes this market is the ability to increase volatility even with ascending trends, compared to Stocks or Stock Market Indices which tend to have a positive correlation only for corrective trends.

This aspect is very important to take into consideration especially when managing a Hedging portfolio with Call and Put Options.

In fact, to making investments in the Gold market it is strongly recommended to have a Hedging portfolio against the risk of financial losses.

The Top Trader (c) Stock Exchange software has been designed to correctly apply the Gann technique and apply Hedging strategies with Call and Put Options.

In this IT platform it is possible: to observe all the static and dynamic payoffs, to have the informative of the Greek, to be able to modify the curvature of the implicit volatility of the options.

 

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