empty
03.11.2020 03:49 PM
Precious metals, Gold and Silver, H4. Comprehensive analysis for November 4, 2020

H4 time frame

Outlook for gold and silver on 4 November 2020

Previous outlook for gold and silver on the four-hour time frame on October 27,2020

Spot Gold

On November 4, 2020, the development of Spot Gold will be determined by a break of the range:

  • The 1900.50 resistance level at the 1/2 Median Line on the one-minute time frame
  • The support level of 1895.00 at the 1/2 Median Line on the one-minute time frame

A break of 1/2 Median Line located at the resistance level of 1900.00 will push the gold price to the zone of (1910.00 - 1923.00 - 1937.00) considering testing the local high of 1932.77. The price may also reach Shiff Line (1940.00).

A break of the 1/2 Median Line located at the support level of 1895.00 is another variant of the downward movement development. The main targets are the following:

- lower border of the channel 1/2 Median Line (1891.00);

- lower limit of the channel 1/2 Median Line (1880.80);

- initial SSL line (1869.00);

The price may again hit the local low of 1859.57 and reach the warning line LWL 61.8 Minute (1855.00).

Details of Spot Gold movement on November 4, 2020 can be seen in the animated *. gif chart (opens in a separate tab).

This image is no longer relevant

Spot Silver

Spot Silver from November 4, 2020 will move depending on the direction of a break of the limits of the equilibrium zone (23.850 - 24.210 - 24.600)

Movement inside this zone is shown in an animated *. gif graph (opens in a separate tab). If there is a break of the upper limit of ISL 61. 8 of the equilibrium zone located near the resistance level of 24.600, the upward movement of Spot Silver can be continued to the following targets:

- Highs of 25.245 - 25.515;

- the final line FSL (25.770);

- the final Shiff Line (26.260).

If the price breaks the lower limit of the ISL38.2 of the equilibrium zone located near the support level of 23.850, Spot Silver may continue dropping to the limits of the channel 1/2 Median Line (23.500 - 23.230 - 22.960) and even reach the initial SSL line (22.760) and then update the local low of 22.540.

Details of the Spot Silver direction from November 4, 2020 are shown in the animated *. gif graph (opens in a separate tab).

This image is no longer relevant

The review is prepared 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).

More Analytics on the InstaForex website.

ZUP and Andrews Pitchfork (terms, concepts, parameters).

Materials for the study of Analysis ZUP & APL's.

Ratu Taslim,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

USD/JPY: Slowing Inflation in the U.S. Could Pressure the Pair

The Japanese yen fell significantly the day before on unexpected news of a 90-day pause in trade wars. This development supported the dollar, but whether its growth will continue remains

Pati Gani 09:56 2025-04-10 UTC+2

EUR/USD Forecast for April 10, 2025

Yesterday, U.S. President Donald Trump lowered tariffs to 10% for 90 days for countries that did not retaliate to the initial U.S. tariffs (more than 75 in total). Meanwhile, tariffs

Laurie Bailey 05:08 2025-04-10 UTC+2

GBP/USD Forecast for April 10, 2025

On Wednesday, the British pound fully worked through the target range of 1.2816/47, but as expected, it failed to consolidate above that range, instead entering a consolidation phase around this

Laurie Bailey 05:08 2025-04-10 UTC+2

USD/JPY Forecast for April 10, 2025

Yesterday's heightened volatility in USD/JPY failed to change the bearish sentiment—the candle body never closed above the balance line. This morning's decline nearly engulfed yesterday's white candle. The price

Laurie Bailey 05:08 2025-04-10 UTC+2

S&P 500 Forecast for April 10, 2025

The U.S. stock index, the S&P 500, posted one of the largest single-day gains in its history yesterday. It fell just a few points short of the target level

Laurie Bailey 05:08 2025-04-10 UTC+2

Trading Signals for GOLD (XAU/USD) for April 9-11, 2025: sell below $3,075 (21 SMA - 61.8%)

Technically, gold has been oversold since yesterday, so this rebound over the last few hours represents a technical correction. Therefore, we believe there could be consolidation below 3,085

Dimitrios Zappas 16:03 2025-04-09 UTC+2

EUR/USD and GBP/USD – Technical Analysis for April 9

The bulls are attempting to regain control, and we are currently observing increased activity and a push toward the peak of the ongoing correction at 1.1147. A breakout above this

Evangelos Poulakis 10:07 2025-04-09 UTC+2

Technical Analysis of Intraday Price Movement Natural Gas Commodity Instrument, Wednesday, April 09, 2025.

On the 4-hour chart of the Natural Gas commodity instrument, a Bearish 123 pattern appears followed by a Bearish Ross Hook (RH) followed by a Natural Gas price movement below

Arief Makmur 07:11 2025-04-09 UTC+2

Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pair, Wednesday, April 09, 2025.

Although on the 4-hour chart the USD/CAD commodity currency pair is moving in a Bearish channel, but with the formation of a Bullish 123 pattern and being above

Arief Makmur 07:11 2025-04-09 UTC+2

EUR/USD Forecast for April 9, 2025

By the end of Tuesday, the euro gained 45 pips, and during today's Pacific session, it has added roughly the same amount, approaching the target level of 1.1027. If resistance

Laurie Bailey 04:31 2025-04-09 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.