Long-Term Gold Price Channel Analysis (Gold Spot / USD)

Sep 27

XAUUSD
XAUUSD


This is a candlestick analysis of Gold Spot (XAU/USD) for 6 months that goes through historical data from the 1930s. It makes use of a logarithmic scale and appears key support and resistance levels, as well as regression trendlines, that facilitate long-term price continuity.The purple trendlines depict varying channels in Fibonacci from -1 to 1.5 so that one can observe the key zones of support and resistance that gold has usually adhered to in the past.The center line (0) is represented in black and is the median of all the previous actions, where the price usually stays.Spring lines denote the significant price levels: $1,345.42 is a long-term lower support and $3,736.64 is an upper resistance level if we take into account the historical track record for a particular stock [sic].The current price index is around $2,647.99, with the stock having moved in a dominant upward trend (+13.82% this quarter).The vision of the future: If we are seeing a downtrend period in gold’s history, there is a fairly good possibility of a developing uptrend that will take gold near resistance price at the upper channel which is expected around 2030. This format is combined with historical trends and is a projection of the future price movements that all together provide a broader perspective to investors.

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