Gold Technical Scenarios: October 7, 2015
Anton Kolhanov | Oct 07, 2015 06:25AM ET
Main scenario:
Gold is trading along an uptrend, where downtrend will start as soon as the pair drops below support level 1146, which will be followed by moving down to support level 1140 and 1124.
Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 1152, which will be followed by reaching resistance level 1160.
Main scenario:
The pair is trading along an uptrend with target on 1152. That may be expected to continue in case the market rises above resistance level 1140.
Alternative scenario:
An downtrend will start as soon as the pair drops below support level 1124, which will be followed by moving down to support level 1108.
Main scenario:
The pair is trading along an sideways trend between resistance 1170 and support 1108 levels. An 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.
Main scenario:
The pair is trading along an 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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