gold price forecast today

gold monthly

Gold technical analysis and May-June 2022 forecast

Gold technical analysis and trading signals for the period May-June 2022 through William Gann’s mathematical-geometric model.

Historical Gold weekly chart

Short term Gold technical analysis

During the weekly Set Up of April 21, 2022, the Gold market performed a bearish out-side that indicates the birth of a new corrective force in the short term.

The new negative phase reported in the week of April 21 was confirmed the following week with the negative infringement of $ 1,926:

the downward dynamics brought the prices from $ 1,998 on April 18, 2022 to $ 1,787 on May 16, 2022.

However, the corrective trend has reached important angular and static supports and new important temporal signals are now approaching.

In particular, the static support at $ 1,774 and dynamic 1X8 at $ 1,796.

The Minimum Square expiring the week of May 20 could produce the birth of a new positive pull-back.

This circumstance will be verified with the bullish break of the top of the week of May 20, which will have to be realized in the following week, that of May 27.

In this case, in the following weeks, the triggering of the new upward force could bring prices to the $ 1,936 area.

Conversely, the continuation of prices below $ 1,782 will indicate the continuation of the weakness of Gold with further targets at $ 1,740.

Medium term Gold forecast

After a long positive lateral phase between September 2021 and January 2022, the Gold market has started a new upward phase with ever increasing returns.

The months of March and April 2022 coincided with two important monthly Set Up which generated dynamic forces.

In fact, in March Gold reached the area of ​​the top relative to August 2020 at $ 2,070.

Subsequently, in April, the prices of the yellow metal broke the level of $ 1,880, effectively generating a correction that brought the prices back just beyond the base of the ascending corridor, consisting of the 1X2 angles and the Zero angle in $ 1,820 area.

However, the negative trend generated by the April Set Up could be considered a temporal over balance, rather than a negative dynamic action of prices.

That is, as long as the low of December 2021 at $ 1,763 is not broken downwards, the area traced by the current correction will represent a new lateral phase that will be the prerequisite for a new bullish push.

However, the confirmation of the future potential new upward dynamics will only be indicated by the bullish break relative to the top of April 2022.

Currently, in the medium term the objective technical framework is lateral negative.

Quarterly Gold trend

In the long term trend, the current correction is still to be considered a partial negative retracement and the dynamics still remain bullish.

The 1X2 ascending angular supports are quoted at $ 1,777 and in recent days they have blocked the corrective action.

Only the return below $ 1,768 will lead to a negative directional reversal in the long term: supports at $ 1,706.

Trading Gold today with Gann’s technique

Since last February, some turbulence has begun in all financial markets that often did not allow for an autocorrelation of returns.

This phenomenon can also be found in the Gold market in the various time frames.

In fact, excepted the lateral phase which did not create any appreciable returns, only in February-March 2022 the swing chart remained sharply upwards to turn later in April.

Such turbulence can also be found in very far past times.

Indeed Gann explained that such unpredictable movements could be successfully traded thanks to a replication portfolio consisting of Call and Put Options.

Naturally, it will be necessary to apply a strategy that contemplates the curvature of implied volatility to be effective, taking into account that this curvature changes from market to market.

The Top Trader© Stock Exchange software allows you to correctly apply the Gann technique and at the same time can simulate the various static and dynamic pay-offs thanks to the calculation of the Greek and applying different models for the curvature of the VI.