Gold Forecast (April 5, 2021): Wait to BUY again

Gold Weekly Chart

Gold had a long-term uptrend (for 2 years) and the medium-term downward adjustment (for 8 months). From this price range, I make my forecast - "Gold" will create the bottom then go up. Nice price for us to BUY and Hold is 1678.

תמונת-בזק

If the price does not collapse strongly or decisively through this price range, the above forecasts will not change.

Daily chart

The overview direction that I predict is to return to the 177x - 178x (The confluence of downward trend and previous Resistance zone).

תמונת-בזק

4h chart: 2 scenarios

Scenario 1: Strong adjustment and rebound

The price will fall again, back to 170x and bounce back.

תמונת-בזק

Scenario 2: Going sideways to accumulate the power and bounce back.

That means it would still move sideways in the 172x zone, then rise up.

תמונת-בזק
buyxauusdGoldgoldtradinggoldusdlongxauusdSupply and DemandSupport and ResistanceTrend LinesXAUXAUUSDxauusdanalysis

כתב ויתור