Gold Technical Scenarios: September 23, 2015
Anton Kolhanov | Sep 23, 2015 08:05AM ET
Main scenario:
Gold is trading along a downtrend and may be expected to continue in case the market drops below support level 1121.50, which will be followed by reaching support level 1108.
Alternative scenario:
An uptrend will start as soon, as gold rises above resistance level 1128, which will be followed by moving up to resistance level 1140.
Weekly Forecast, 21 - 25 September
Main scenario:
Gold is trading along an uptrend with target on 1160.
Alternative scenario:
An downtrend will start as soon, as gold drops below support level 1124, which will be followed by moving down to support level 1106.
Monthly forecast, September, 2015
Main scenario:
Gold is trading along an downtrend with target on 1080 and may be expected to continue, while it is trading below resistance level 1170.
Alternative scenario:
An uptrend will start as soon as gold rises above resistance level 1170, which will be followed by moving up to resistance level 1224.
Long-term Forecast: September - November, 2015
Main scenario:
Gold is trading along an downtrend with target on 970 - 880 and may be expected to continue, while it is trading below resistance level 1170.
Alternative scenario:
An uptrend will start as soon as gold 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 gold to reach resistance level 1560 or we will have correction to 1170.
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