Gold: Trading Along An Uptrend
Forex Million | Dec 16, 2014 05:25AM ET
Gold
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1201 which will be followed by reaching resistance level 1217 and then to 1227.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1201 which will be followed by moving down to support level 1191.
Previous forecast:
Weekly Forecast, 15 - 19 December
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue in case the market rises above resistance level 1217, which will be followed by reaching resistance level 1245.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1201, which will be followed by moving down to support level 1157.
Previous forecast:
Monthly forecast, December - January
Main scenario:
The pair is trading along an uptrend.
The uptrend may be expected to continue while pair is trading above support level 1201, which will be followed by reaching resistance level 1245 and then to 1285.
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Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1201, which will be followed by moving down to support level 1171 and then to 1135.
Previous forecast:
Long-term Forecast: May - August
Main scenario:
The pair is trading along a downtrend.
The downtrend may be expected to continue while pair is trading below resistance level 1560, which will be followed by reaching support level 1182 and then to 975 - 878.
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 1560, which will be followed by moving up to resistance level 1747 and then to 2000.
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