Gold Downtrend To Continue Below 1069
Anton Kolhanov | Dec 01, 2015 04:10AM ET
Gold
Main scenario:
The pair is trading along a downtrend with target on 1008 that may be expected to continue while pair is trading below resistance level 1069.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1069, which will be followed by moving up to resistance level 1094.
Monthly forecast, December 2015
Main scenario:
The pair is trading along a downtrend with target on 1008 and 970 that may be expected to continue while pair is trading below resistance level 1069 - 1094.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1194, which will be followed by moving up to resistance level 1160.
Long-term Forecast: September - November, 2015
Main scenario:
The pair is trading along a downtrend with target on 970 - 880 and may be expected to continue while pair is trading below resistance level 1170.
Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1170, which will be followed by moving up to resistance level 1325 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 1560 or we will have correction to 1170.
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