Gold trend short and medium term price forecast and graphs

gold forecast
forexgann

Gold trend forecast and technical analysis

Gold trend: prices forecast using the technique and the cycles of the American economist W.D. Gann.

gold trend forecast
gold weekly 09.29.20

Short term Gold forecast

Following the accumulative phase between 2016 and 2018, the Gold market has started a new season of rises that has pushed prices to new all-time highs in 2020.

In particular, the sharp violation of the $ 1,370 area in June-July last year has decreed the beginning of an upward phase with strong weekly returns.

Despite the clear positive trend in the short and medium term, the Gold market has not been without twists, with circumstances that have generated some problems even for professional traders.

In fact, between the end of the fourth quarter of 2019 and the first quarter of 2020, the prices dynamics has been very complex due to significant cyclical expirations that have changed the Gold trend several times.

The 1X2 ascending angles with origin the week of 17 August 2018 and 24 May 2019 have offered an excellent support for the correction, especially in the Set Up week of 20 March of this year.

The positive breach of this candle has positively restored the short-term trend, which has also reversed the medium-term trend, very quickly.

From the week of March 20 onwards we can note how the weekly returns have passed from the 2X1 vector, radiated by the software in yellow, to the 4X1 one in purple.

The growth rate is equal to four times the natural value and lasted until the week of 7 August 2020.

The top of the movement at $ 2,075 has been intercepted not only by the purple vector but also by the 1X2 angular resistance with origin the week of December 4, 2015 (radiated in yellow in the slide just above).

From the angular resistances, after a first major correction, prices have started a partial price distribution.

The two weekly Set Ups on September 18th and 25th has generated contrasting vector forces.

Although at first the directionality was positive, in the following cycle the prices has started a major correction, reaching the 1X1 angle at $ 1,848.84.

The angular vector with origin on April 26, 2019 is radiated in red.

However, the negative trend has lower goals.

In fact, the subsequent supports are placed at $ 1,814 and subsequently at $ 1,774. The lower corners instead are in the $ 1,700 area.

Only a return above $ 1,961 will reestablish a new short-term upward trend.

First dynamic ostacles at $ 1,940.

Medium term Gold price trend    

 gold price forecast

gold monthly september 2020The angular resistances 1X2 and 1X1, respectively colored in yellow and red in the graph, have hindered the propulsive force of Gold in the medium term.

Despite the reversal of September, the trend is solidly positive.

In fact, only with the violation of the level of $ 1,746 the Gold market would show a medium-term weakening.

First dynamic supports in the $ 1,800 area.

The analysis of trends and cycles with Gann’s technique was carried out using the Top Trader© software

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