Gold: The downtrend will start soon
|Weekly forecast (November 14 – 18, 2022)
Uptrend scenario
An uptrend may be expected to continue, while market is trading above support level 1738.7, which will be followed by reaching resistance level 1824.6.
Downtrend scenario
The downtrend will start as soon, as the market drops below support level 1738.7, which will be followed by moving down to support level 1673 and if it keeps on moving down below that level, we may expect the market to reach support level 1622.2.
Monthly forecast, November 2022
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 1696.1, which will be followed by moving up to resistance level 1738.7 and if it keeps on moving up above that level, we may expect the market to reach resistance level 1824.6.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 1696.1, which will be followed by reaching support level 1622.2 and if it keeps on moving down below that level, we may expect the market to reach support level 1566.2.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.