Minute operational scale (H4)
For the past six days, the US dollar has been winning the battle with precious metals - what's next? Overview of options for the movement of Gold & Silver on September 9, 2020.
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Spot Gold
Spot Gold movement will continue from September 3, 2020, depending on the development and direction of the breakdown of the equilibrium zone boundaries (1908.00 - 1921.00 - 1933.00) of the Minuette operational scale fork - the movement markings inside the specified zone are presented on the animated chart.
The upward movement of Spot Gold can take place when the resistance level of 1933.00 is broken at the upper border of ISL38.2 of the equilibrium zone of the Minuette operational scale forks and will be directed to the goals:
- final Sfiff Line Minuette (1952.50);
- UTL control line (1963.00) of the Minute operational scale fork;
- initial line SSL Minuette (1970.00);
- with the prospect of reaching the boundaries of the 1/2 Median Line Minuette (1980.00 - 1990.00 - 1999.00).
The continuation of the development of the downward movement of Spot Gold will become possible in case of a breakdown of the lower boundary of ISL61.8 of the equilibrium zone of the Minuette operational scale fork - support level of 1908.00 - and this movement will be directed to the boundaries of the 1/2 Median Line channel (1890.00 - 1868.00 - 1842.00) of the Minute operational scale fork.
Details of Spot Gold movement from September 9, 2020 can be seen on the animated chart.
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Spot Silver
The development of the Spot Silver movement from September 9, 2020 will also be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (25.500 - 26.000 - 26.450) of the Minuette operational scale fork - details of movement inside the equilibrium zone are shown on the animated chart.
If the upper boundary ISL61.8 of the equilibrium zone of the Minuette operational scale fork is broken - the resistance level of 26.450 - the development of the Spot Silver movement will continue in the equilibrium zone (26.450 - 27.270 - 28.100) of the Minute operational scale fork with the prospect of updating local maximum (28.425 - 28.860) and reaching the control line UTL Minuette (29.100).
If the lower boundary ISL61.8 of the equilibrium zone of the Minuette operational scale is broken - the support level of 25.500 - the downward movement of Spot Silver can be continued to the final SSL line (23.900) of the Minute operational scale with the prospect of updating the local minimum 23.365.
The details of the Spot Silver movement options from September 9, 2020 are shown on an 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).
