Gold price forecast tomorrow: where will prices stop? By Francesco Massetti Posted on 24 September 2024 Condividi su Facebook Condividi su Twitter Condiviso su Google+ Condiviso su Pinterest Condiviso su Linkedin Condiviso su Tumblr Gold Stock Signals Gold price forecasts short and long term Gold price forecasts technical analysis and investment signals using WD Gann time cycles. Historical Gold chart with weekly technical analysis Weekly gold Gold price forecast tomorrow The expiry of the Range Square in the week of 23 February 2024 marked the end of laterality to give way to a new propulsive action in Gold. In the period between the week of 08 December 2023 and 16 February 2024, the dynamics of Gold prices were characterised by a short-term accumulation area, with the bottom at $1,984 being intercepted by the 1X3 support angle, plotted in green. The new upward action generated following the set-up on 23 February ended in the week of 12 April 2024 at the static resistance at $2,417, which was followed by a new sideways action. With the expiry of the Weekly Minimum Square on 19 April, the Gold market underwent a new trend change oscillating between $2,450 and $2,300 until the week of 05 July. In fact, the new Set Up weekly expired on the week of 05 July 2024 restarted a new new progressive phase, which led the prices of the yellow metal towards new absolute highs. The next time signal will expire the week of 27 September 2024. For prices below $2,480 a new negative sideways phase will be re-established: supports in the area of $2,450; $2,400 Resistances are in the area of $2,660. Gold trend with medium-term trading signals Monthly gold Since the bullish out-side of October 2023, Gold prices have continued to rise uninterruptedly for 11 months, without the previous monthly low being broken downwards. From the October 2023 Low Square at $1,810, the Gold market reached a current top in September 2024 at $2,625. The bullish trend evolved within an ascending corridor formed by the 1X2 angles plotted in yellow. The resistances of the upper side of the channel are in the area of $2,660; $2,720. The last trading signal coincides with the September 2024 expiry. A violation of 2,461$ will indicate a break to the bullish trend and the start of a new negative sideways dynamic that will have as its first supports area 2,400-2,360$. Quarterly Gold Technical Analysis Quarterly gold Following the quarterly stock market signal of March 2023, the dynamics of the Gold market prices confirmed the start of a new upward season. The quarterly returns since December 2023 have quadrupled compared to the previous period of 2019-2020, as evidenced by the purple corner in the picture, which represents the 4X1 corner. An ascending channel consisting of 1X2 angles drawn in yellow can also be observed in the quarterly time frame. The resistances are in the area of $2,700; $2,830. Only the return of prices below $2,308 will indicate the start of a new sideways trend: supports in the $2,250 area. The article on the Gold market forecasts were described using the Gann technique and with the help of the Top Trader(c) Stock Exchange software.
