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05.05.202018:49 Forex Analysis & Reviews: Comprehensive analysis of movement options for Gold and Silver (Daily) in May 2020

Long-term review

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Minuette operational scale (H4)

Again, the battle for metal, now for May - an overview of options for the development of the Gold and Silver movement in May 2020.

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Spot Silver

The development of the Spot Silver movement in May 2020 will also be determined by the development and direction of the breakdown of the equilibrium zone (15.250-14.400-13.500) of the Minor operational scale - we look at the animated chart for movement markings inside this zone.

If the support level of 13.500 breaks at the lower border of ISL38.2 of the balance zone of the Minor operational scale forks, the downward movement of Spot Silver can be continued to the channel 1/2 Median Line Minor (12.800-12.000-11.250).

If there is a breakdown of the resistance level of 15.250 at the upper border of ISL61.8 of the balance zone of the Minor operational scale forks, then the development of the Spot Silver movement will be directed to the goals:

local maximum 15.805;
end line FSL Minor (17.800);
local maximum 18.190.

Details of the Spot Silver movement options in May 2020 are shown in the animated chart.

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Spot Gold

The development of the Spot Gold movement in May 2020 will be determined by the development and direction of the breakdown of the range:

resistance level of 1710.00 - the initial line of SSL of the Minuette operational scale forks;
support level of 1671.00 - upper border of the channel 1/2 Median Line of the Minuette operational scale forks.

The breakdown of the support level of 1671.00 is an option for the development of the Spot Gold movement within the 1/2 Median Line channels of the operational scales - Minute (1671.00-1645.00-1616.00) and Minor (1616.00-1582.00-1549.00).

The breakdown of the initial line SSL of the Minor operational scale fork - resistance 1710.00 - option to continue development of the upward movement of Spot Gold to order:

reference line UTL Minor (1729.00);
maximum 1746.24.
UTL control line (1777.00) operating scale fork Minute;
warning line UWL38. 2 Minor (1800.00).

Details of the Spot Gold movement in May 2020 can be seen on the animated chart.

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The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers, and is not a guide to action (placing "sell" or "buy" orders).

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