Gold trend today forecasts and prices end 2020 – beginning 2021

forexgann

Gold trend today prices and quotations December 2020

Gold trend today medium and long-term forecasts through the temporal cycles of the US economist W.D. Gann

Gold price trend weekly graphic

gold forecast 2021
gold weekly 12.01.2020

Short term Gold forecasts

Following the weekly Set Up on March 20, 2020, the Gold market has managed to restore a new short positive trend.

Indeed, in the previous weeks Gold prices had made an important correction whose prices had reached the minimum of November 2019 in the $ 1,415 area.

The new positive phase from March onwards has brought the value of the yellow metal back to its natural growth price, that is the 1X1 angular ascending vector, which the graphic software has irradiated in red, visible in the photo just above.

During the summer we have witnessed a real acceleration that has pushed prices to new all-time highs: in the week of August 7, 2020, Gold reached $ 2,075.

In the following weeks, we have seen many lateral phases that led to the presumption of a new bullish push for Gold.

In particular, the temporal cycle of 25 September has changed the short-term scenario of the market.

The bearish breach of $ 1,928 level has reversed the short trend out-look.

Indeed, the market has plunged to the next dynamic support in the $ 1,848 area.

The subsequent period has even more complex: there have been 4 weeks of inside, after the dynamics has resumed being countered again with bearish and bullish breaks that followed one week after the other.

During the Square Bottom expiring on Nov 13, Gold has executed a bearish out-side, restoring a short-term negativity.

The trend has continued with a corrective course until it reached the next angular support at $ 1,774.

Next cycle expiring will be the week of 11 December 2020.

The trend will remain corrective as long as Gold prices remain below the $ 1,970 area.

Upcoming resistances $ 1,890; $ 1,921. Supports $ 1,723; $ 1,670.

Gold technical analysis in the medium term

gold trend today forecast 2020
Gold monthly dicember 2020

Both July and August closures are in the 1X1 ascending angular vector area from the December 2015 low.

The expiring Set Ups were August and November 2020.

Both signals have been broken downwards despite the 1X1 ascending angle acting as support in September and October.

In November the Gold market has confirmed the existent negativity in place and ended the downward run on the 1X1 Zero angle which is acting as a support.

The trend will remain negative in the medium term until the prices break up the top of November 2020.

Resistances in the area of ​​$ 1,887; supports at $ 1,650.

Long-term Gold price trend

gold price forecast
gold quarterly dicember 2020

In the long term, the trend is still positive, but reaching $ 1,745 will also reverse the quarterly trend in a corrective sense.

Supports in the $ 1,689 area.

Gold price graphic using Top Trader© software

The trend analysis in the short, medium and long-term Gold market was carried out thanks to the use of the Top Trader © Stock Exchange software.

The graphics program allows you to easily apply the theory of the American economist W.D. Gann.

Through the use of this software it will be possible to identify the Stock Market trend, the Gann Squares to derive the temporal cycles, the angles for the identification of the various supports and resistances, not much more for what concerns the Gann theory.

One of the most important applications inside the program concerns defensive strategies with the use of the Call and Put options.

Indeed it is possible to obtain the right pricing of the option premiums by applying the Black Scholes Merton formulas for the different Hedging techniques.

Indeed, it is possible to apply up to 10 strategies with the use of different models of implied volatility.

 

Comments are closed

Check Also

Books on online trading and Forex how to do trading using Gann’s technique

Books on online trading and Forex how to do trading using Gann’s technique Books on online…