Spot Gold Price Forecast: Long Term Target $1958

Spot Gold Price Forecast: Gold has stalled at the 20-day moving average and is likely to consolidate in the very near-term, says Technical Analysis Research Team. She still expects in the long term, Gold to reach the 1958 area. 

Gold Technical Report & Key

“Gold has recently rallied to and failed at the 20 day ma at $1834.52 and sold off and is likely to consolidate very near term. Initial support is the $1789 12th July low ahead of the $1748 2019—2021 uptrend line.”

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“While above there we will retain our longer term upside bias, however the lack of a sustained bounce is worrying. Rallies will find initial resistance offered by the 20 day ma at 1836 and the 1857.25 4 th June low. This guards the June high at 1916.91 and Fibo at 1921.”

“Longer term we still target the 1959/65 November 2020 high and the 2021 high. These guard the 1989/78.6% retracement and the 2072 2020 peak.”

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Spot Gold Price Forecast: Long Term Target $1958 via @goldsilverrepor
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