20.10.202012:52 Forex Analysis & Reviews: Precious metals - Gold & Silver - h4. Comprehensive analysis of APLs & ZUP traffic options from October 20, 2020

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Operational scale Minute (time frame h4 )

US Dollar remains on the offensive in the battle for the metals? - Review of options for the movement of Gold & Silver from October 20, 2020.

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Spot Gold

The development of Spot Gold movement from October 20 2020 will be determined by the development and direction of the range breakdown:

resistance level 1908.00 on the initial line of SSL pitchfork of the Minute Operational Scale
support level 1900.00 at the lower border of the channel 1/2 Median Line Minute

Breakdown of the lower boundary of the 1/2 Median Line Minute channel - support level 1900.00 - a variant of the development of the downward movement of Spot Gold to the initial SSL Minuette line ( 1885.00 ) and the boundaries of the 1/2 Median Line Minuette channel ( 1875.00 - 1862.00 - 1848.00 ) with the prospect of the price reaching the instrument the control line LTL Minute ( 1841.00 ) and the upper limit of ISL38.2 ( 1817.00 ) of the balance zone of the pitchfork of the Minute Operational Scale.

In case of breakdown of the initial line of the SSL pitchfork of the Minute Operating Scale - resistance level 1908.00. The development of the Spot Gold movement will again begin to occur within the 1/2 Median Line Minute channel ( 1900.00 - 1918.00 - 1937.00 ), taking into account the working out of the local maximum 1932.77 and with the prospect of reaching another local maximum of 1973.00.

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Spot Silver

Starting from October 20, 2020, Spot Silver will also develop its movement depending on the development and direction of the range breakdown:

resistance level 24.420 on the initial line of SSL pitchfork of the Minute Operational Scale
support level 24.100 on the starting line of the SSL pitchfork Minute at the lower border of the channel 1/2 Median Line Minute

In case of breakdown of the initial SSL pitchfork line of the Minute Operational Scale - support level 24.100 - the downward movement of Spot Silver may develop towards the following goals :

control line LTL ( 23.799 ) of the Minuette Operational Scale pitchfork
local minimum`s 23.525 - 22.823
Channel 1/2 Median Line ( 22.700 - 22.050 - 21.400 ) of the Minute Operational Scale

Upon breakout of the initial SSL Minuette line - resistance level 24.420 - the development of the Spot Silver movement will continue to the boundaries of the 1/2 Median Line Minuette channel ( 24.370 - 25.000 - 25.310 ) with the possibility of updating the local maximum 25.515 and reaching the lower boundary of ISL38.2 ( 25.900 ) of the Minuette Operational Scale pitchfork balance zone.

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

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