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02.09.202015:31 Forex Analysis & Reviews: Comprehensive analysis of movement options for Gold & Silver (H4) on September 3, 2020

Minute operational scale (H4)

How will the fight of metals vs US dollar continue? An overview of options for the movement of Gold & Silver on September 3, 2020.

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Spot Gold

The Spot Gold movement from September 3, 2020 will develop depending on the development and direction of the range breakdown:

• resistance level of 1965.00 - the initial line of SSL of the Minute operational scale forks;
• support level of 1950.00 - the upper border of the channel 1/2 Median Line of the Minuette operational scale forks.

In the event of a breakdown of the support level of 1950.00, the Spot Gold movement may develop within the boundaries of the 1/2 Median Line channel (1950.00 - 1939.50 - 1926.00) and equilibrium zones (1932.00 - 1914.00 - 1898.00) of the Minuette operational scale forks.

In the event of a breakdown of the initial SSL Minute line - resistance level of 1965.00 - the development of the Spot Gold movement will be directed to the goals:

• initial line SSL Minuette (1979.00);
• control line UTL Minuette (1988.00);
• local maximum 1991.80;
• with the prospect of reaching the boundaries of the 1/2 Median Line channel (2014.86 - 2045.00 - 2084.75) of the Minute operational scale forks.

Details of the Spot Gold movement since September 3, 2020 can be seen on the animated chart.

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Spot Silver

The development of the Spot Silver movement from September 3, 2020 will continue within the boundaries of the equilibrium zones of the operational scale fork - Minute (27.900 - 27.150 - 26.350) and Minuette (27.000 - 26.550 - 25.990) - details of movement within these zones are shown on the animated chart.

Continued downward movement of Spot Silver will become possible when breaking the lower border ISL61.8 equilibrium zone of the Minuette operational scale forks - support level of 25.990 and will be sent to the ultimate line FSL Minuette (24.350).

In turn, if the upper limit of ISL61.8 equilibrium zone of the Minute operational scale forks is broken - resistance level of 27.900 - the development of an upward movement of Spot Silver towards the goals will become relevant:

• initial SSL line (28.600) of the Minuette operational scale forks;
• local maximum (28.860 - 29.805);
• with the prospect of reaching the initial SSL line (30.500) of the Minute operational scale forks.

Details of the Spot Silver movement options from September 3, 2020 are shown in 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).

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Ratu Taslim,
Analytical expert of InstaSpot
© 2007-2024

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