07.07.202017:09 Forex Analysis & Reviews: Comprehensive analysis of movement options for Gold and Silver (H4) on July 8, 2020

Minute operational scale (H4)

Gold and Silver - overview of movement options from July 8, 2020.

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Spot Gold

The development of the Spot Gold movement from July 8, 2020 will continue to be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1772.80 - 1778.80 - 1784.80) of the Minuette operational scale fork - details of working out these levels are shown on the animated chart.

Breakdown of the lower border of the channel 1/2 Median Line of the Minuette operational scale fork - support level of 1772.80 - a variant of the development of the downward movement of Spot Gold to the goals:

final Shiff Line (1765.00) of the Minute operational scale fork;

equilibrium zone (1759.00 - 1749.00 - 1740.00) of the Minuette operational scale fork;

with the prospect of reaching the boundaries of the channel 1/2 Median Line Minute (1729.00 - 1717.17 - 1707.00).

If the upper border of the channel is broken 1/2 Median Line Minuette - resistance level of 1784.80 - option to continue the development of the upward movement of Spot Gold to the goals:

local maximum 1788.73.

UTL control line (1803.00) of the Minuette operational scale fork;

upper bound of ISL61.8 (1808.80) balance zone of the Minute operational scale fork.

Details of the Spot Gold movement from July 8, 2020 can be seen on the animated chart.

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Spot Silver

The development of the Spot Silver movement from June 25 2020 will also be due to the development and direction of the breakdown of the 1/2 Median Line channel boundaries (18.100 - 17.920 - 17.740) of the Minuette operational scale fork - we look at the animated chart for details of the processing of the above levels.

Breakdown of the lower border of the channel 1/2 Median Line Minuette - support level of 17.740 - continuation of the downward movement of Spot Silver to the control line LTL (17.150) of the Minuette operational scale fork and the initial line SSL (17.000) of the Minute operational scale fork.

When the upper border of the channel is broken 1/2 Median Line Minuette - the resistance level of 18.100 - a variant of the upward movement of Spot Silver to the goals:

initial line SSL Minuette (18.260);

local maximum 18.405;

ultimate Shiff Line Minuette (18.720);

with the prospect of reaching the boundaries of the equilibrium zone (19.180 - 19.500 - 19.800) of the Minuette operational scale fork.

Details of the Spot Silver movement options from July 8, 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).