Weekly chart
Gold Forecast- The price has stopped on the 1790 resistance level for the third time (red small arrows) and in addition it is possible to see that the trend line connecting the lows is used as a dynamic resistance as well. Establishment of the price above the mentioned trend line while breaking the 1790 price level will probably lead the price at first stage to check the upper Bollinger band and breaching this band will lead the price towards the last peak on the 1920 price level. On the other hand, stoppage of the price under the 1790 resistance level and its comeback under the ascending trend line will probably lead the price to a range between the Bollinger bands that will get closer to each other.
You can see the chart below:
Weekly chart
Gold Forecast- The price has reached the Bollinger’s moving average while it is possible to see that it is currently performing a technical correction in size of between a third and two thirds of the uptrend started on the 1540 price level by Fibonacci. Breaking of the Bollinger’s moving average will lead the price towards the next support on the 1625 price level. On the other hand, stoppage of the price and breaching the 1790 price level well lead the price towards its last peak on the 1920 price level.
You can see the chart below:
Daily chart
Gold Forecast- The price has checked whether the 1716 price level can change roles from a support to resistance while a red Marabuzu candle has marked the direction of the price under this level. It is possible to assume now that the breaking of the 1668 Fibonacci level in a proven way will lead the price towards the next support on the 1630 price level. y will change this assumption.
You can see the chart below:
