Gold – Crude Oil Forecast

(Anton Kolhanov)

Gold could rise towards the 1811.58 level

Thursday forecast (August 4, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 1786.35, which will be followed by moving up to resistance level 1811.58.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 1786.35, which will be followed by reaching support level 1739.

This/next week forecast (August 1 – 5, 2022)

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 1786, which will be followed by reaching resistance level 1857 – 1876.

Downtrend scenario

An downtrend will start from resistance 1786 or as soon, as the market drops below support level 1739, which will be followed by moving down to support level 1676.

Monthly forecast, August 2022

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 1786, which will be followed by reaching resistance level 1876.

Downtrend scenario

An downtrend will start from resistance 1786, which will be followed by moving down to support level 1676 and if it keeps on moving down below that level, we may expect the market to reach support level 1557.

Could crude oil fall towards the 85.40 level?

Thursday forecast (August 4, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 92.93, which will be followed by moving up to resistance level 100.90.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 92.93, which will be followed by reaching support level 85.40.

This/next week forecast (August 1 – 5, 2022)

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 101,53, which will be followed by reaching resistance level  105,24 and if it keeps on moving up above that level, we may expect the market to reach resistance level 114,05.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 101,53, which will be followed by reaching support level 92,93 and if it keeps on moving down below that level, we may expect the market to reach support level 85,41.

previous week forecast

Monthly forecast, August 2022

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 101.53, which will be followed by moving up to resistance level 114.05.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 92.93, which will be followed by moving down to support level 85.41 and 76.98.

Read GBP/USD Forecast: Pound could weaken in case BOE forecasts recession