Gold Uptrend Expected To Continue Above 1190
Anton Kolhanov | Oct 15, 2015 07:27AM ET
Gold
Main scenario:
The pair is trading along an uptrend that may be expected to continue in case the market rises above resistance level 1190, which will be followed by reaching resistance level 1200.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1174, which will be followed by moving down to support level 1160.
Weekly Forecast, 12 - 16 October
Main scenario:
The pair is trading along an uptrend that may be expected to continue in case the market rises above resistance level 1170, which will be followed by reaching resistance level 1190.
Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1146, which will be followed by moving down to support level 1124 -1108.
Monthly forecast, October 2015
Main scenario:
The pair is trading along a sideways trend between resistance 1170 and support 1108 levels. A downtrend will start as soon as the pair drops below support level 1108, which will be followed by moving down to support level 1080.
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 1224.
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.
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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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