16.06.202018:41 Forex Analysis & Reviews: Comprehensive analysis of movement options for Gold & Silver (Weekly timeframe) for the second half of 2020

Intermediate operational scale (Weekly)

How the battle for the Gold & Silver metal will unfold in the second half of 2020 in the weekly timeframe - options for the development of the movement.

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Spot Gold

In the second half of 2020, the movement of Spot Gold will depend on the development and direction of the breakdown of the range:

• resistance level of 1764.02 - initial line SSL of the Minor (Daily) operational scale forks - maximum from May 17, 2020;
• support level of 1707.00 - lower limit of the channel 1/2 Median Line of the Intermediate operational scale fork (Weekly).

The downward movement of Spot Gold will be important in case of breaking the support level of 1707.00 at the lower border of the channel 1/2 Median Line of the Intermediate operational scale fork (Weekly) and will be directed to the channel borders 1/2 Median Line (1616.00-1560.00-1515.00) and equilibrium zone (1560.00-1490.00-1430.00) of the Minor (Daily) operational scale fork.

The upward movement of Spot Gold will be continued in the breakdown of the resistance level 1764.02 on the starting line SSL of the Minor (Daily) operational scale fork - maximum from May 17, 2020 and will be directed to the goals:

• 1/2 Median Line Intermediate (1835.00);
• upper border of the channel 1/2 Median Line Intermediate (1970.00);
• lower bound of ISL38.2 (1985.00) equilibrium zone of the Intermediate operational scale fork (Weekly).

Spot Gold movement options are shown on the animated chart.

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Spot Silver

In the second half of 2020, the movement of Spot Silver will also depend on the direction of the breakdown of the range:

• resistance level 17.500 - the upper limit of ISL61.8 balance zone of the Minor (Daily) operational scale fork;
• support level 16.850 - upper limit of 1/2 medium Line channel of the Intermediate (Weekly) operational scale fork.

The downward movement of Spot Silver can be continued at the breakdown of the support level of 16.850 and will flow inside the boundaries of the channel 1/2 Median Line (16.850-16.100-15.350) and equilibrium zones (15.500-14.600-13.800) of the Intermediate (Weekly) operational scale fork, taking into account the development of the Median Line (16.500) of the Minor (Daily) operational scale forks.

The upward movement of Spot Silver can take place in the event of a breakout of the resistance level of 17.500 at the upper border of ISL61.8 balance zone of the Minor (Daily) operational scale fork and will be directed to the goals:

• initial SSL line (18.320) of the Intermediate (Weekly) operational scale fork;
• UTL Intermediate control line (19.150);
• uwl38.2 Intermediate warning line (19.500);
• maximum 19.610 from September 1, 2019.

Options for Spot Silver movement are shown on the animated chart (opens in a separate tab).

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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).