Gold: Further Break Up Of 1246 Will Continue Uptrend To 1265
Anton Kolhanov | Jun 07, 2016 06:36AM ET
Gold
Main scenario:
The pair is trading along a sideways trend between support 1240 and resistance 1246.
An uptrend will start as soon as the pair rises above resistance level 1246, which will be followed by moving up to resistance level 1265.
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Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1240, which will be followed by moving down to support level 1232.
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Previous forecast:
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/h2
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Main scenario:
The pair is trading along an uptrend with target on 1265, that may be expected to continue, while pair is trading above support level 1232.
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Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1232, which will be followed by moving down to support level 1215.
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Previous forecast:
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Monthly forecast, June 2016: uptrend with target on 1294
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Main scenario:
The pair is trading along an uptrend with target on 1294, that may be expected to continue, while pair is trading above support level 1190.
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Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 1190, which will be followed by moving down to support level 1133.
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Previous forecast:
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Quarterly forecast, April - June, 2016
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Main scenario:
The pair is trading along an uptrend that may be expected to continue in case the market rises above resistance level 1300, which will be followed by reaching resistance level 1395, 1470 and 1560.
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Alternative scenario:
A downtrend will start as soon as the pair drops below support level 1260, which will be followed by moving down to support level 1130 and 1058.
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Previous forecast:
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Main scenario:
The pair is trading along a downtrend with target on 970, and if it keeps on moving down below that level, we may expect the pair to reach support level 670, but in other way from 970 we can expect correction on resistance level 1190.
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Alternative scenario:
An uptrend will start as soon as the pair rises above resistance level 1325, which will be followed by moving up to resistance level 1560 - 1750.
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